Acorn Wealth Advisors LLC Sells 56 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Acorn Wealth Advisors LLC cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,646 shares of the home improvement retailer’s stock after selling 56 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,800,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. 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 worth $32,000 after purchasing an additional 70 shares in the last quarter. JNBA Financial Advisors lifted its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC increased its holdings in shares of Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 2.4 %

Shares of NYSE LOW traded up $6.26 on Monday, reaching $270.94. 283,347 shares of the company’s stock traded hands, compared to its average volume of 2,438,112. The business’s 50 day simple moving average is $268.74 and its two-hundred day simple moving average is $244.92. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The company has a market cap of $153.70 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. Lowe’s Companies’s payout ratio is presently 38.37%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on 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 approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial upped their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI upped their price objective on Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday, November 20th. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $277.92.

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.