Lafayette Investments Inc. Has $12.84 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lafayette Investments Inc. reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,403 shares of the home improvement retailer’s stock after selling 84 shares during the quarter. Lowe’s Companies accounts for about 2.7% of Lafayette Investments Inc.’s holdings, making the stock its 8th biggest holding. Lafayette Investments Inc.’s holdings in Lowe’s Companies were worth $12,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LOW. Vanguard Group Inc. increased its holdings in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $217,995,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler raised their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $270.60.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lowe’s Companies 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 0.3 %

Shares of NYSE:LOW traded up $0.90 during midday trading on Thursday, hitting $271.01. 138,993 shares of the stock traded hands, compared to its average volume of 2,441,053. The stock has a market capitalization of $154.43 billion, a PE ratio of 21.70, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01. The business’s 50 day moving average is $259.66 and its two-hundred day moving average is $239.47.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the company posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.