Principal Street Partners LLC Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Principal Street Partners LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 33.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,211 shares of the home improvement retailer’s stock after buying an additional 1,311 shares during the period. Principal Street Partners LLC’s holdings in Lowe’s Companies were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. JNBA Financial Advisors increased its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its position 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 valued at $35,000 after purchasing an additional 70 shares in the last quarter. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies in the second quarter worth about $37,000. Finally, Tsfg LLC lifted its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.0 %

Shares of NYSE:LOW opened at $272.64 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $196.32 and a 52-week high of $287.01. The business has a fifty day moving average of $269.11 and a two-hundred day moving average of $245.19. The stock has a market cap of $154.67 billion, a P/E ratio of 22.96, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LOW. Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 20th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Morgan Stanley boosted their target price on shares of 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, Melius Research began coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.