Legacy Financial Advisors Inc. Has $652,000 Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Legacy Financial Advisors Inc. boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,957 shares of the home improvement retailer’s stock after acquiring an additional 85 shares during the period. Legacy Financial Advisors Inc.’s holdings in Lowe’s Companies were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Summit Trail Advisors LLC increased its holdings in shares of Lowe’s Companies by 38.5% in the second quarter. Summit Trail Advisors LLC now owns 10,171 shares of the home improvement retailer’s stock valued at $2,242,000 after purchasing an additional 2,827 shares during the last quarter. Sei Investments Co. grew its stake in Lowe’s Companies by 2.0% in the 2nd quarter. Sei Investments Co. now owns 480,491 shares of the home improvement retailer’s stock valued at $105,927,000 after buying an additional 9,228 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Lowe’s Companies by 1.2% in the 2nd quarter. Pacer Advisors Inc. now owns 41,091 shares of the home improvement retailer’s stock valued at $9,059,000 after acquiring an additional 488 shares during the period. AE Wealth Management LLC lifted its position in Lowe’s Companies by 52.7% during the second quarter. AE Wealth Management LLC now owns 18,268 shares of the home improvement retailer’s stock worth $4,027,000 after acquiring an additional 6,305 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its holdings in shares of Lowe’s Companies by 164.8% during the second quarter. Bridges Investment Management Inc. now owns 375,240 shares of the home improvement retailer’s stock worth $82,725,000 after acquiring an additional 233,522 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction 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 of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 0.3 %

NYSE LOW opened at $260.14 on Friday. The company has a market capitalization of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock has a fifty day simple moving average of $243.58 and a 200 day simple moving average of $235.36.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 earnings per share. Research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LOW shares. Truist Financial lifted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $253.33.

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.