2,060 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, HoldingsChannel.com reports. The fund acquired 2,060 shares of the home improvement retailer’s stock, valued at approximately $558,000.

Other institutional investors have also bought and sold shares of the company. V2 Financial group LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter valued at about $217,000. Proactive Wealth Strategies LLC purchased a new position in Lowe’s Companies during the third quarter worth about $516,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Lowe’s Companies by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,295,624 shares of the home improvement retailer’s stock valued at $350,920,000 after purchasing an additional 14,900 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Harbour Investments Inc. now owns 8,178 shares of the home improvement retailer’s stock valued at $2,215,000 after buying an additional 129 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Lowe’s Companies by 9.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 19,329 shares of the home improvement retailer’s stock worth $5,236,000 after buying an additional 1,628 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOW. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Royal Bank of Canada lowered their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Finally, Truist Financial lifted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, 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 the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 1.7 %

Shares of LOW opened at $269.84 on Wednesday. The firm’s fifty day simple moving average is $265.13 and its 200-day simple moving average is $242.57. The firm has a market capitalization of $153.08 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.26 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $192.10 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Lowe’s Companies, Inc. will post 11.92 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

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.