Texas Capital Bank Wealth Management Services Inc Acquires 1,313 Shares of Lowe's Companies, Inc. $LOW

Key Points

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Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 72.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,124 shares of the home improvement retailer's stock after purchasing an additional 1,313 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Lowe's Companies were worth $729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Brighton Jones LLC increased its stake in Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after purchasing an additional 259 shares in the last quarter. Transce3nd LLC bought a new stake in Lowe's Companies during the 4th quarter valued at $236,000. Tradition Wealth Management LLC increased its stake in Lowe's Companies by 7.4% during the 4th quarter. Tradition Wealth Management LLC now owns 2,715 shares of the home improvement retailer's stock valued at $670,000 after purchasing an additional 188 shares in the last quarter. Finally, J. Safra Sarasin Holding AG increased its stake in Lowe's Companies by 27.5% during the 4th quarter. J. Safra Sarasin Holding AG now owns 106,019 shares of the home improvement retailer's stock valued at $26,166,000 after purchasing an additional 22,887 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, May 21st. Finally, DA Davidson reduced their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $271.68.

Lowe's Companies Stock Down 0.5%

NYSE LOW opened at $250.86 on Tuesday. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market cap of $140.59 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.38 and a beta of 0.89. The firm's 50-day simple moving average is $227.16 and its two-hundred day simple moving average is $229.98.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the firm posted $3.06 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Lowe's Companies's payout ratio is currently 39.77%.

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.

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