PFG Investments LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

PFG Investments LLC boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 36.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,637 shares of the home improvement retailer’s stock after purchasing an additional 3,876 shares during the period. PFG Investments LLC’s holdings in Lowe’s Companies were worth $3,964,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC grew its holdings in shares of Lowe’s Companies by 1.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 95,315 shares of the home improvement retailer’s stock worth $25,816,000 after purchasing an additional 904 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Lowe’s Companies by 19.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,683 shares of the home improvement retailer’s stock valued at $16,478,000 after buying an additional 10,060 shares in the last quarter. BKM Wealth Management LLC grew its stake in Lowe’s Companies by 36.1% during the third quarter. BKM Wealth Management LLC now owns 14,264 shares of the home improvement retailer’s stock worth $3,863,000 after buying an additional 3,783 shares during the period. Convergence Financial LLC increased its position in shares of Lowe’s Companies by 16.5% in the third quarter. Convergence Financial LLC now owns 7,351 shares of the home improvement retailer’s stock worth $1,991,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC increased its position in shares of Lowe’s Companies by 57.4% in the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 2,644 shares of the home improvement retailer’s stock worth $716,000 after acquiring an additional 964 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on 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. 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.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Gordon Haskett cut their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Bank of America upped their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $270.60.

Lowe’s Companies Trading Down 1.4 %

NYSE LOW traded down $3.72 during trading hours on Friday, reaching $267.64. The company’s stock had a trading volume of 1,788,117 shares, compared to its average volume of 2,447,013. The stock has a market cap of $151.83 billion, a PE ratio of 22.19, a PEG ratio of 2.24 and a beta of 1.10. The business has a 50-day simple moving average of $260.81 and a 200 day simple moving average of $239.87. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 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.