Arvest Investments Inc. Has $2.76 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Arvest Investments Inc. grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,193 shares of the home improvement retailer’s stock after buying an additional 111 shares during the quarter. Arvest Investments Inc.’s holdings in Lowe’s Companies were worth $2,761,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during 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. Legal & General Group Plc boosted its holdings in shares of Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares during the period. Price T Rowe Associates Inc. MD lifted 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 worth $468,884,000 after acquiring an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after purchasing an additional 90,945 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.8 %

LOW traded up $4.80 during midday trading on Friday, reaching $271.10. The company’s stock had a trading volume of 2,102,467 shares, compared to its average volume of 2,186,897. The stock’s 50-day moving average is $264.61 and its 200-day moving average is $242.17. Lowe’s Companies, Inc. has a 1 year low of $189.05 and a 1 year high of $287.01. The firm has a market capitalization of $153.79 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.91 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 issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Truist Financial increased their target price on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report 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 report on Wednesday, August 21st. Finally, UBS Group upped their price objective 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. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $273.44.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.