West Family Investments Inc. Buys 480 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

20 Nov 2024, 19:18 by Tristan Rich · The Markets Daily

West Family Investments Inc. grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 43.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,583 shares of the home improvement retailer’s stock after acquiring an additional 480 shares during the quarter. West Family Investments Inc.’s holdings in Lowe’s Companies were worth $429,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LOW. Second Half Financial Partners LLC acquired a new position in Lowe’s Companies in the third quarter valued at about $2,209,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Lowe’s Companies in the 3rd quarter valued at about $16,656,000. W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Lowe’s Companies by 0.5% in the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 54,748 shares of the home improvement retailer’s stock valued at $14,829,000 after buying an additional 248 shares in the last quarter. First City Capital Management Inc. lifted its holdings in shares of Lowe’s Companies by 32.6% during the 3rd quarter. First City Capital Management Inc. now owns 8,017 shares of the home improvement retailer’s stock worth $2,171,000 after acquiring an additional 1,969 shares during the period. Finally, Equita Financial Network Inc. boosted its position in shares of Lowe’s Companies by 3.4% during the 3rd quarter. Equita Financial Network Inc. now owns 4,905 shares of the home improvement retailer’s stock worth $1,329,000 after acquiring an additional 163 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $259.23 on Wednesday. The firm has a 50 day moving average price of $267.97 and a two-hundred day moving average price of $244.23. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The firm has a market cap of $147.06 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for 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 for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.56 earnings per share. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Activity at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on LOW shares. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Stifel Nicolaus boosted their target price on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.84.

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