OneAscent Wealth Management LLC Makes New $419,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

OneAscent Wealth Management LLC purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,548 shares of the home improvement retailer’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its stake in shares of Lowe’s Companies by 20,275.6% in 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. Applied Finance Capital Management LLC increased its stake in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after purchasing an additional 645,017 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 during the period. Finally, Marshall Wace LLP increased its stake in shares of 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 worth $162,178,000 after purchasing an additional 463,645 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW traded up $1.86 on Monday, hitting $271.26. The company’s stock had a trading volume of 296,509 shares, compared to its average volume of 2,429,822. The company has a market capitalization of $153.88 billion, a PE ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The company has a 50 day moving average price of $267.19 and a 200 day moving average price of $243.74.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 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 business 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 business earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.93 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. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on LOW. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Truist Financial boosted their price target on Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Insiders Place Their Bets

In other Lowe’s Companies 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 owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.