Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 34.1% during the second quarter, HoldingsChannel.com reports. The firm owned 4,282 shares of the home improvement retailer’s stock after buying an additional 1,088 shares during the period. EverSource Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fairscale Capital LLC bought a new stake in shares of Lowe’s Companies in the second quarter worth $75,000. Gabelli Funds LLC grew its holdings in Lowe’s Companies by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 48,715 shares of the home improvement retailer’s stock worth $10,740,000 after acquiring an additional 160 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Lowe’s Companies by 45,250.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 202,715 shares of the home improvement retailer’s stock worth $44,691,000 after acquiring an additional 202,268 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Lowe’s Companies by 10,786.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 5,552 shares of the home improvement retailer’s stock worth $1,224,000 after purchasing an additional 5,501 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its stake in shares of Lowe’s Companies by 3.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,957 shares of the home improvement retailer’s stock valued at $652,000 after purchasing an additional 85 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $262.29 on Tuesday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a market capitalization of $149.46 billion, a P/E ratio of 21.07, a PEG ratio of 2.03 and a beta of 1.10. The business’s fifty day moving average price is $244.18 and its two-hundred day moving average price is $235.47.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.56 earnings per share. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analysts Set New Price Targets

LOW has been the subject of a number of research reports. TD Cowen lifted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. decreased 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. Piper Sandler lowered their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

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.