First City Capital Management Inc. Purchases 1,969 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

First City Capital Management Inc. grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 32.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,017 shares of the home improvement retailer’s stock after purchasing an additional 1,969 shares during the quarter. Lowe’s Companies makes up about 1.1% of First City Capital Management Inc.’s portfolio, making the stock its 21st largest position. First City Capital Management Inc.’s holdings in Lowe’s Companies were worth $2,171,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. JNBA Financial Advisors boosted its stake in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies during the second quarter worth $37,000. Finally, Tsfg LLC boosted its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $271.87 on Tuesday. The firm has a 50-day moving average of $267.74 and a 200-day moving average of $244.04. The company has a market cap of $154.23 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the company posted $4.56 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LOW. JPMorgan Chase & Co. cut 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 note on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Truist Financial upped their price objective on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $273.84.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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.