Black Diamond Financial LLC Purchases 199 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Black Diamond Financial LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,640 shares of the home improvement retailer’s stock after purchasing an additional 199 shares during the quarter. Black Diamond Financial LLC’s holdings in Lowe’s Companies were worth $444,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LOW. Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Gordon Haskett lowered their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Telsey Advisory Group upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $275.00 to $305.00 in a research note on Friday, November 8th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $273.84.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $270.35 on Friday. The firm’s fifty day moving average is $266.16 and its 200-day moving average is $243.06. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01. The firm has a market cap of $153.37 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.56 earnings per share. As a group, sell-side analysts anticipate 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. Investors of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.