Claro Advisors LLC Buys 38,794 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Claro Advisors LLC boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2,246.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,521 shares of the home improvement retailer’s stock after purchasing an additional 38,794 shares during the quarter. Lowe’s Companies comprises 1.0% of Claro Advisors LLC’s portfolio, making the stock its 17th largest holding. Claro Advisors LLC’s holdings in Lowe’s Companies were worth $10,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Lowe’s Companies by 20.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 829 shares of the home improvement retailer’s stock worth $225,000 after buying an additional 140 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lowe’s Companies by 2.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,599 shares of the home improvement retailer’s stock worth $18,038,000 after buying an additional 1,804 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Lowe’s Companies by 1.9% during the third quarter. Trust Co. of Vermont now owns 95,444 shares of the home improvement retailer’s stock worth $25,851,000 after buying an additional 1,744 shares during the last quarter. Cardinal Capital Management lifted its holdings in shares of Lowe’s Companies by 0.6% during the third quarter. Cardinal Capital Management now owns 46,436 shares of the home improvement retailer’s stock worth $12,577,000 after buying an additional 263 shares during the last quarter. Finally, Secure Asset Management LLC acquired a new position in shares of Lowe’s Companies during the third quarter worth approximately $242,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $1.18 during trading hours on Friday, hitting $280.13. 285,445 shares of the company’s stock were exchanged, compared to its average volume of 2,442,192. The stock’s 50-day moving average is $256.46 and its 200-day moving average is $238.58. The stock has a market cap of $159.63 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.56 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.64%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. 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 available at the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

LOW has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Evercore ISI upped their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price 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. Finally, TD Cowen upped their target price on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $268.42.

Lowe’s Companies Company 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.