Knuff & Co LLC Buys 56 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

19 Nov 2024, 12:19 by Scott Moore · The Cerbat Gem

Knuff & Co LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,005 shares of the home improvement retailer’s stock after purchasing an additional 56 shares during the quarter. Knuff & Co LLC’s holdings in Lowe’s Companies were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crew Capital Management Ltd. boosted its stake in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the period. Summit Place Financial Advisors LLC boosted its stake in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group boosted its stake in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Sanford C. Bernstein assumed coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price objective on the stock. Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada lowered their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Check Out Our Latest Report on Lowe’s Companies

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $271.87 on Tuesday. The firm has a market capitalization of $154.23 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The business’s 50-day moving average is $267.74 and its two-hundred day moving average is $244.04. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.56 EPS. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Lowe’s Companies Company Profile

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