Axxcess Wealth Management LLC Raises Position in Lowe’s Companies, Inc. (NYSE:LOW)

Axxcess Wealth Management LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 27.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,451 shares of the home improvement retailer’s stock after buying an additional 3,521 shares during the period. Axxcess Wealth Management LLC’s holdings in Lowe’s Companies were worth $3,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brevan Howard Capital Management LP boosted its holdings in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after acquiring an additional 13,680 shares during the period. Bamco Inc. NY lifted its position in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd lifted its position in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $1,368,000. Finally, Gerber LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $235,000. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LOW. Gordon Haskett lowered their price target 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. Evercore ISI upped their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Bank of America lowered their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $252.83.

Insider Transactions at Lowe’s Companies

In other news, 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.0 %

Shares of NYSE:LOW opened at $256.76 on Wednesday. The stock has a fifty day simple moving average of $241.71 and a two-hundred day simple moving average of $234.94. The stock has a market capitalization of $146.31 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

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, beating analysts’ consensus estimates 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 company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost 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 1.79%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

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.