Keystone Wealth Services LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Keystone Wealth Services LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,637 shares of the home improvement retailer’s stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ullmann Wealth Partners Group LLC acquired a new stake in shares of Lowe’s Companies in the third quarter worth $257,000. Shulman DeMeo Asset Management LLC increased its stake in shares of Lowe’s Companies by 8.5% in the third quarter. Shulman DeMeo Asset Management LLC now owns 2,166 shares of the home improvement retailer’s stock worth $587,000 after acquiring an additional 169 shares during the period. Norway Savings Bank increased its stake in shares of Lowe’s Companies by 0.7% in the third quarter. Norway Savings Bank now owns 8,713 shares of the home improvement retailer’s stock worth $2,360,000 after acquiring an additional 58 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Lowe’s Companies by 5.5% in the third quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,506 shares of the home improvement retailer’s stock worth $403,000 after acquiring an additional 78 shares during the period. Finally, Iams Wealth Management LLC grew its position in Lowe’s Companies by 39.4% during the third quarter. Iams Wealth Management LLC now owns 1,529 shares of the home improvement retailer’s stock valued at $414,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

LOW stock traded up $1.19 during trading on Tuesday, reaching $281.92. 2,369,064 shares of the stock were exchanged, compared to its average volume of 2,460,845. The business has a 50 day moving average price of $253.68 and a 200-day moving average price of $237.77. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01. The firm has a market capitalization of $160.65 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase 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 1.63%. Lowe’s Companies’s payout ratio is 36.95%.

Analysts Set New Price Targets

Several research firms recently commented on LOW. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $268.42.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents 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.

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.