Inscription Capital LLC Buys New Shares in Lowe’s Companies, Inc. $LOW

Inscription Capital LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,630 shares of the home improvement retailer’s stock, valued at approximately $661,000.

A number of other hedge funds also recently bought and sold shares of LOW. Vanguard Group Inc. increased its stake in shares of Lowe’s Companies by 0.7% during the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after buying an additional 366,977 shares during the period. State Street Corp grew its holdings in Lowe’s Companies by 0.8% during the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after acquiring an additional 207,826 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after acquiring an additional 42,190 shares in the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $1,773,624,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lowe’s Companies by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock valued at $784,559,000 after purchasing an additional 34,382 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 3.2%

Shares of NYSE LOW opened at $277.09 on Thursday. The business has a 50-day moving average price of $247.43 and a 200 day moving average price of $245.49. The stock has a market cap of $155.43 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 4.45 and a beta of 0.96. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $278.44.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 earnings per share. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Lowe’s Companies’s dividend payout ratio is 39.80%.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LOW shares. TD Cowen reiterated a “hold” rating on shares of Lowe’s Companies in a research note on Tuesday. Argus decreased their price target on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a report on Wednesday, January 7th. Gordon Haskett upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Tuesday, January 13th. Finally, Jefferies Financial Group upped their price target on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 19th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.65.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.