Turtle Creek Wealth Advisors LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Turtle Creek Wealth Advisors LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,788 shares of the home improvement retailer’s stock after acquiring an additional 641 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $4,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LOW. Stephens Consulting LLC raised its holdings in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. JNBA Financial Advisors raised its holdings in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at about $37,000. Finally, Tsfg LLC raised its holdings in shares of Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.4 %

Shares of Lowe’s Companies stock traded down $0.95 during trading hours on Friday, reaching $269.40. 2,264,979 shares of the company’s stock were exchanged, compared to its average volume of 2,439,940. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The company has a fifty day moving average of $267.19 and a 200-day moving average of $243.51. The firm has a market capitalization of $152.83 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results 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 firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.71%. Lowe’s Companies’s dividend payout ratio is 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Sanford C. Bernstein assumed 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. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, TD Cowen increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $273.84.

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.