Greatmark Investment Partners Inc. Purchases 1,938 Shares of Lowe’s Companies, Inc. $LOW

Greatmark Investment Partners Inc. raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,790 shares of the home improvement retailer’s stock after acquiring an additional 1,938 shares during the period. Lowe’s Companies makes up approximately 2.7% of Greatmark Investment Partners Inc.’s holdings, making the stock its 11th biggest holding. Greatmark Investment Partners Inc.’s holdings in Lowe’s Companies were worth $22,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in Lowe’s Companies in the second quarter worth $27,000. Solstein Capital LLC lifted its position in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the last quarter. Traub Capital Management LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $33,000. 74.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Performance

LOW opened at $276.46 on Friday. The stock’s 50 day moving average price is $249.28 and its 200-day moving average price is $246.21. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $281.36. The stock has a market cap of $155.08 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 4.59 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same quarter in the previous year, the business earned $2.89 EPS. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. DA Davidson lowered their price target on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Wolfe Research decreased their price objective on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Bank of America lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. TD Cowen lifted their target price on Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, December 1st. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.65.

Lowe’s Companies 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.