Victory Capital Management Inc. Acquires 52,856 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Victory Capital Management Inc. boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 536,533 shares of the home improvement retailer’s stock after buying an additional 52,856 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Lowe’s Companies worth $145,320,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. JNBA Financial Advisors boosted its position in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the second quarter worth approximately $37,000. Finally, Tsfg LLC boosted its position in shares of Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Down 1.7 %

Lowe’s Companies stock opened at $269.84 on Wednesday. The firm has a 50-day moving average price of $265.13 and a 200-day moving average price of $242.57. The firm has a market capitalization of $153.08 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $192.10 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.56 EPS. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.92 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date 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 currently 38.14%.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 shares were 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 approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Truist Financial boosted their target price 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. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Melius Research assumed coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

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.