Oak Harbor Wealth Partners LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Oak Harbor Wealth Partners LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,949 shares of the home improvement retailer’s stock after buying an additional 136 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY grew its stake in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its stake in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the last quarter. HM Payson & Co. grew its stake in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after purchasing an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after purchasing an additional 20,123 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 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 document filed with the SEC, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Royal Bank of Canada dropped their price target 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. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their target price on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Monday. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

Shares of LOW opened at $270.35 on Friday. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The stock has a market capitalization of $153.37 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.24 and a beta of 1.10. The stock has a 50 day moving average price of $266.16 and a 200 day moving average price of $243.06.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the business earned $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Lowe’s Companies Company 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.