CWA Asset Management Group LLC Takes $3.50 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

CWA Asset Management Group LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,927 shares of the home improvement retailer’s stock, valued at approximately $3,501,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LOW. Stephens Consulting LLC increased its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. JNBA Financial Advisors increased its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 70 shares during the period. Kimelman & Baird LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $37,000. Finally, Tsfg LLC boosted its stake in Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.8 %

Shares of Lowe’s Companies stock opened at $271.10 on Friday. Lowe’s Companies, Inc. has a 12-month low of $189.05 and a 12-month high of $287.01. The firm has a market capitalization of $153.79 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock’s fifty day moving average is $264.61 and its 200-day moving average is $242.11.

Lowe’s Companies (NYSE:LOW) last posted 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 firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a positive change 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 dividend payout ratio (DPR) is currently 38.14%.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on 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 transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LOW. Bank of America raised their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. TD Cowen raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $275.00 to $305.00 in a research report on Friday. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.44.

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.