Connable Office Inc. Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Connable Office Inc. grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,515 shares of the home improvement retailer’s stock after acquiring an additional 60 shares during the quarter. Connable Office Inc.’s holdings in Lowe’s Companies were worth $3,390,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LOW. Crew Capital Management Ltd. raised its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the period. Summit Place Financial Advisors LLC increased its stake in Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group lifted its position in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after purchasing an additional 40 shares during the period. Finally, Drive Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.7 %

Lowe’s Companies stock opened at $270.35 on Friday. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01. The stock has a 50-day moving average price of $266.16 and a 200 day moving average price of $243.06. The company has a market capitalization of $153.37 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business earned $4.56 earnings per share. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. 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 dividend 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%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LOW. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. 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 report on Friday, October 11th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.