Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 8.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,166 shares of the home improvement retailer’s stock after acquiring an additional 169 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Lowe’s Companies were worth $587,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its position in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in Lowe’s Companies during the 1st quarter worth $1,368,000. Lincoln National Corp raised its position in shares of Lowe’s Companies by 1.5% in the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock valued at $2,835,000 after buying an additional 169 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

LOW traded up $1.10 on Tuesday, hitting $281.83. 2,368,664 shares of the company were exchanged, compared to its average volume of 2,460,843. The company has a market cap of $160.60 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The firm has a 50-day moving average price of $253.68 and a two-hundred day moving average price of $237.77. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. Equities analysts expect that Lowe’s Companies, Inc. will post 11.91 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 paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost 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 dividend payout ratio (DPR) is currently 36.95%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. TD Cowen boosted their price objective 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. Morgan Stanley raised their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Evercore ISI upped their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $268.42.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.