Cornerstone Wealth Group LLC Has $7 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Wealth Group LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 25,852 shares of the home improvement retailer’s stock after acquiring an additional 195 shares during the period. Cornerstone Wealth Group LLC’s holdings in Lowe’s Companies were worth $7,002,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. MFA Wealth Advisors LLC lifted its position in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at about $35,000. Stephens Consulting LLC grew its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC grew its position in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, 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 value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. 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 insiders.

Lowe’s Companies Stock Performance

LOW opened at $261.54 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $187.77 and a 52-week high of $287.01. The stock has a market capitalization of $149.03 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The stock’s 50 day moving average price is $262.14 and its 200-day moving average price is $240.45.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.56 EPS. Research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.76%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LOW shares. Bank of America upped their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Gordon Haskett dropped their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $271.60.

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.