First Horizon Corp Invests $2.75 Million in Lowe’s Companies, Inc. $LOW

First Horizon Corp bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to its most recent filing with the SEC. The firm bought 10,936 shares of the home improvement retailer’s stock, valued at approximately $2,748,000.

Other institutional investors have also recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $27,000. Solstein Capital LLC boosted its stake in Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the period. Traub Capital Management LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC increased its position in Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares during the period. Finally, Olistico Wealth LLC acquired a new position in shares of Lowe’s Companies during the second quarter worth approximately $33,000. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. Argus decreased their price target on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Royal Bank Of Canada cut their price objective on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research report on Thursday, November 20th. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a research report on Wednesday, January 7th. Finally, Jefferies Financial Group boosted their price target on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.52.

Lowe’s Companies Stock Up 1.4%

NYSE:LOW opened at $270.93 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $274.98. The firm has a market capitalization of $151.98 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 4.43 and a beta of 0.96. The firm has a 50-day moving average price of $241.68 and a 200 day moving average price of $243.20.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period in the previous year, the business earned $2.89 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.