Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Absher Wealth Management LLC

Absher Wealth Management LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,115 shares of the home improvement retailer’s stock after acquiring an additional 1,595 shares during the quarter. Lowe’s Companies accounts for approximately 0.6% of Absher Wealth Management LLC’s holdings, making the stock its 28th largest holding. Absher Wealth Management LLC’s holdings in Lowe’s Companies were worth $4,636,000 as of its most recent SEC filing.

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

Lowe’s Companies Price Performance

Shares of LOW stock traded up $2.93 on Friday, hitting $264.76. The stock had a trading volume of 345,364 shares, compared to its average volume of 2,436,963. The company’s 50 day moving average price is $262.57 and its 200-day moving average price is $240.60. Lowe’s Companies, Inc. has a 1 year low of $189.05 and a 1 year high of $287.01. The firm has a market capitalization of $150.20 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.15 and a beta of 1.10.

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

Lowe’s Companies Increases Dividend

The business 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. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LOW. Truist Financial boosted their target price on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased 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. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $271.60.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies 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.