BKM Wealth Management LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

BKM Wealth Management LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 36.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,264 shares of the home improvement retailer’s stock after acquiring an additional 3,783 shares during the period. Lowe’s Companies makes up approximately 1.6% of BKM Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. BKM Wealth Management LLC’s holdings in Lowe’s Companies were worth $3,863,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. International Assets Investment Management LLC raised its position in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc bought a new position in shares of Lowe’s Companies during the 1st quarter worth $217,995,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares during the period. 74.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOW shares. Telsey Advisory Group upped their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. reduced their target price 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. Truist Financial increased their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

Lowe’s Companies Stock Down 1.4 %

Shares of Lowe’s Companies stock opened at $267.64 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The company has a 50 day moving average of $260.81 and a 200 day moving average of $239.87. The company has a market capitalization of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.56 earnings per share. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. Lowe’s Companies’s payout ratio is currently 38.14%.

Lowe’s Companies Company 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.