Shulman DeMeo Asset Management LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Shulman DeMeo Asset Management LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,166 shares of the home improvement retailer’s stock after purchasing an additional 169 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Lowe’s Companies were worth $587,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group grew its stake in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the last quarter. Chapin Davis Inc. lifted its position in shares of Lowe’s Companies by 1.3% in the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after buying an additional 41 shares in the last quarter. Crown Wealth Group LLC boosted its stake in Lowe’s Companies by 4.4% during the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after buying an additional 44 shares during the last quarter. Finally, Pure Financial Advisors LLC grew its holdings in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 45 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, 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 sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 that occurred on 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.10 during trading hours on Tuesday, hitting $281.83. 2,368,664 shares of the company were exchanged, compared to its average volume of 2,460,843. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The stock has a market capitalization of $160.60 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.28 and a beta of 1.10. The company’s 50 day moving average price is $253.68 and its 200-day moving average price is $237.77.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm earned $4.56 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of research firms have recently commented on LOW. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Gordon Haskett lowered their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.42.

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.