Sitrin Capital Management LLC Has $431,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sitrin Capital Management LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,592 shares of the home improvement retailer’s stock after purchasing an additional 90 shares during the period. Sitrin Capital Management LLC’s holdings in Lowe’s Companies were worth $431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. International Assets Investment Management LLC grew its stake in Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after acquiring an additional 1,199,100 shares during the period. M&G Plc acquired a new stake in Lowe’s Companies during the first quarter worth approximately $217,995,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares during the period. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. TD Cowen increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday. Bank of America boosted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $271.60.

Lowe’s Companies Stock Up 1.1 %

Shares of LOW stock traded up $3.01 during trading hours on Friday, hitting $264.84. 603,431 shares of the company’s stock traded hands, compared to its average volume of 2,437,970. The stock has a market cap of $150.24 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock’s 50 day simple moving average is $262.57 and its 200 day simple moving average is $240.60. Lowe’s Companies, Inc. has a 12 month low of $189.05 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.56 EPS. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio is 38.14%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on 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 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

About Lowe’s Companies

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.