Joule Financial LLC Takes $231,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

by · The Cerbat Gem

Joule Financial LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 852 shares of the home improvement retailer’s stock, valued at approximately $231,000.

A number of other hedge funds have also bought and sold shares of the business. Stonegate Investment Group LLC grew its position in shares of Lowe’s Companies by 0.7% in the third quarter. Stonegate Investment Group LLC now owns 10,888 shares of the home improvement retailer’s stock valued at $2,949,000 after purchasing an additional 79 shares in the last quarter. Claro Advisors LLC boosted its stake in Lowe’s Companies by 2,246.3% in the 3rd quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after purchasing an additional 38,794 shares during the period. DiNuzzo Private Wealth Inc. grew its holdings in Lowe’s Companies by 20.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 829 shares of the home improvement retailer’s stock valued at $225,000 after buying an additional 140 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Lowe’s Companies by 2.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,599 shares of the home improvement retailer’s stock valued at $18,038,000 after buying an additional 1,804 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in shares of Lowe’s Companies by 1.9% in the third quarter. Trust Co. of Vermont now owns 95,444 shares of the home improvement retailer’s stock worth $25,851,000 after buying an additional 1,744 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

LOW stock traded down $0.36 during trading on Friday, hitting $280.95. 519,175 shares of the company traded hands, compared to its average volume of 2,442,867. The firm has a market capitalization of $160.10 billion, a PE ratio of 22.60, a P/E/G ratio of 2.28 and a beta of 1.10. The company has a 50-day moving average of $256.46 and a 200-day moving average of $238.58. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.64%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOW. Bank of America upped their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. UBS Group upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. TD Cowen lifted their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.42.

View Our Latest Stock Report on Lowe’s Companies

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Company Profile

(Free Report)

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.

Recommended Stories