Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Boosted by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,749 shares of the home improvement retailer’s stock after buying an additional 59 shares during the quarter. Zions Bancorporation N.A.’s holdings in Lowe’s Companies were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Summit Asset Management LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter valued at $205,000. Bell Bank grew its holdings in Lowe’s Companies by 1.2% during the third quarter. Bell Bank now owns 4,921 shares of the home improvement retailer’s stock worth $1,333,000 after acquiring an additional 60 shares during the period. Main Street Financial Solutions LLC raised its position in Lowe’s Companies by 2.1% in the third quarter. Main Street Financial Solutions LLC now owns 9,218 shares of the home improvement retailer’s stock worth $2,497,000 after acquiring an additional 193 shares in the last quarter. D Orazio & Associates Inc. boosted its position in shares of Lowe’s Companies by 1.7% during the 3rd quarter. D Orazio & Associates Inc. now owns 4,475 shares of the home improvement retailer’s stock valued at $1,212,000 after purchasing an additional 74 shares in the last quarter. Finally, Schrum Private Wealth Management LLC grew its stake in shares of Lowe’s Companies by 19.9% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 1,572 shares of the home improvement retailer’s stock worth $426,000 after purchasing an additional 261 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was 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. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on LOW. TD Cowen increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. 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, November 11th. Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, UBS Group upped their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

LOW opened at $269.40 on Friday. The firm has a market cap of $152.83 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business has a 50 day moving average price of $266.68 and a 200 day moving average price of $243.25. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. As a group, 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 firm also recently disclosed 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 represents a $4.60 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

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.