Legacy Bridge LLC Purchases 260 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Legacy Bridge LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,350 shares of the home improvement retailer’s stock after acquiring an additional 260 shares during the quarter. Lowe’s Companies accounts for 1.3% of Legacy Bridge LLC’s holdings, making the stock its 12th largest holding. Legacy Bridge LLC’s holdings in Lowe’s Companies were worth $1,885,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Lowe’s Companies by 357.1% during the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Tanglewood Legacy Advisors LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at $30,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $32,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Lowe’s Companies in the fourth quarter valued at approximately $35,000. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. Loop Capital upped their price target on Lowe’s Companies from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Piper Sandler increased their price target on Lowe’s Companies from $230.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus initiated coverage on Lowe’s Companies in a research note on Wednesday, September 6th. They issued a “buy” rating and a $270.00 target price on the stock. Robert W. Baird increased their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, August 22nd. Finally, Argus upped their price target on Lowe’s Companies from $250.00 to $260.00 in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $237.48.

Lowe’s Companies Stock Down 0.3 %

Lowe’s Companies stock opened at $219.45 on Monday. The firm has a fifty day simple moving average of $227.93 and a two-hundred day simple moving average of $213.68. Lowe’s Companies, Inc. has a twelve month low of $176.50 and a twelve month high of $237.21. The company has a market capitalization of $126.65 billion, a PE ratio of 21.66, a P/E/G ratio of 1.49 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The company had revenue of $24.96 billion during the quarter, compared to analyst estimates of $24.97 billion. During the same quarter in the previous year, the company posted $4.67 EPS. Lowe’s Companies’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 13.46 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is 43.31%.

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.