Keudell Morrison Wealth Management Buys Shares of 820 Lowe’s Companies, Inc. (NYSE:LOW)

Keudell Morrison Wealth Management bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 820 shares of the home improvement retailer’s stock, valued at approximately $222,000.

A number of other hedge funds have also added to or reduced their stakes in LOW. Envestnet Portfolio Solutions Inc. raised its stake in Lowe’s Companies by 20.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 62,964 shares of the home improvement retailer’s stock valued at $16,039,000 after buying an additional 10,802 shares during the last quarter. SG Americas Securities LLC raised its stake in Lowe’s Companies by 110.8% during the 1st quarter. SG Americas Securities LLC now owns 74,600 shares of the home improvement retailer’s stock valued at $19,003,000 after buying an additional 39,212 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Lowe’s Companies by 99.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,748 shares of the home improvement retailer’s stock valued at $1,464,000 after buying an additional 2,867 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Lowe’s Companies by 12.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 57,993 shares of the home improvement retailer’s stock worth $14,773,000 after purchasing an additional 6,431 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in shares of Lowe’s Companies by 0.3% in the 1st quarter. Highland Capital Management LLC now owns 86,539 shares of the home improvement retailer’s stock worth $22,044,000 after purchasing an additional 299 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $266.30 on Friday. The firm has a market cap of $151.07 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. The firm’s 50 day simple moving average is $263.77 and its 200-day simple moving average is $241.67. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.56 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.73%. Lowe’s Companies’s payout ratio is 38.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. TD Cowen increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada lowered their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Finally, Piper Sandler increased their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.24.

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.