QRG Capital Management Inc. Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

QRG Capital Management Inc. raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,725 shares of the home improvement retailer’s stock after purchasing an additional 13,595 shares during the quarter. QRG Capital Management Inc.’s holdings in Lowe’s Companies were worth $39,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. National Pension Service increased its position in Lowe’s Companies by 12.5% during the 3rd quarter. National Pension Service now owns 1,137,934 shares of the home improvement retailer’s stock valued at $308,209,000 after purchasing an additional 126,138 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Lowe’s Companies by 219.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock valued at $124,142,000 after purchasing an additional 314,861 shares during the period. Fort L.P. purchased a new position in Lowe’s Companies during the 3rd quarter valued at $239,000. BSW Wealth Partners grew its position in shares of Lowe’s Companies by 27.9% in the 3rd quarter. BSW Wealth Partners now owns 2,211 shares of the home improvement retailer’s stock worth $599,000 after buying an additional 482 shares during the period. Finally, Whitener Capital Management Inc. grew its position in shares of Lowe’s Companies by 2.6% in the 3rd quarter. Whitener Capital Management Inc. now owns 13,270 shares of the home improvement retailer’s stock worth $3,594,000 after buying an additional 336 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LOW shares. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price on the stock. Finally, Morgan Stanley upped their target price 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. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.60.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % 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 Stock Performance

LOW opened at $263.08 on Monday. The stock has a market capitalization of $149.24 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.15 and a beta of 1.10. The company’s 50-day simple moving average is $262.81 and its two-hundred day simple moving average is $241.00. Lowe’s Companies, Inc. has a 52-week low of $189.05 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued 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 net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the business earned $4.56 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 38.14%.

Lowe’s Companies Profile

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.