Secure Asset Management LLC Takes $242,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Secure Asset Management LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 893 shares of the home improvement retailer’s stock, valued at approximately $242,000.

A number of other hedge funds have also bought and sold shares of LOW. Vanguard Group Inc. raised its position in shares of Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc bought a new stake in Lowe’s Companies in the first quarter worth approximately $217,995,000. Price T Rowe Associates Inc. MD increased its holdings in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after buying an additional 463,645 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 transaction 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 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 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 can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $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. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of several recent analyst reports. Telsey Advisory Group raised 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 report on Wednesday, October 2nd. Evercore ISI raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. dropped 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. Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $268.42.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $281.57 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01. The firm’s 50-day simple moving average is $257.37 and its 200 day simple moving average is $238.81. The stock has a market cap of $160.45 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’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 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.63%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.