Copperwynd Financial LLC Purchases 760 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Copperwynd Financial LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 22.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,113 shares of the home improvement retailer’s stock after acquiring an additional 760 shares during the period. Copperwynd Financial LLC’s holdings in Lowe’s Companies were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Creative Planning grew its position in shares of Lowe’s Companies by 1.3% during the 2nd quarter. Creative Planning now owns 204,435 shares of the home improvement retailer’s stock worth $45,070,000 after buying an additional 2,585 shares during the period. Doheny Asset Management CA acquired a new stake in Lowe’s Companies during the 2nd quarter worth $559,000. Ascent Group LLC raised its position in shares of Lowe’s Companies by 12.0% during the 2nd quarter. Ascent Group LLC now owns 4,028 shares of the home improvement retailer’s stock valued at $888,000 after acquiring an additional 432 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Lowe’s Companies by 10.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 1,979 shares of the home improvement retailer’s stock worth $436,000 after purchasing an additional 183 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of Lowe’s Companies by 92.2% during the second quarter. Kathmere Capital Management LLC now owns 2,781 shares of the home improvement retailer’s stock worth $613,000 after purchasing an additional 1,334 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LOW. Wells Fargo & Company cut their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Evercore ISI upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Truist Financial lifted their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $258.13.

Lowe’s Companies Stock Up 0.6 %

Shares of Lowe’s Companies stock opened at $267.14 on Friday. The stock has a market cap of $152.23 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $268.71. The business’s 50 day moving average is $246.22 and its 200-day moving average is $236.18.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during 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 for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.56 earnings per share. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

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.