Stone Point Wealth LLC Has $3.51 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Stone Point Wealth LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,951 shares of the home improvement retailer’s stock after selling 95 shares during the quarter. Lowe’s Companies comprises about 1.1% of Stone Point Wealth LLC’s investment portfolio, making the stock its 29th largest position. Stone Point Wealth LLC’s holdings in Lowe’s Companies were worth $3,508,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. grew its position in shares of Lowe’s Companies by 1.1% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 6,200 shares of the home improvement retailer’s stock worth $1,679,000 after buying an additional 65 shares during the period. Vista Capital Partners Inc. acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at approximately $204,000. Lewis Asset Management LLC grew its position in shares of Lowe’s Companies by 11.4% in the 3rd quarter. Lewis Asset Management LLC now owns 2,394 shares of the home improvement retailer’s stock valued at $648,000 after purchasing an additional 245 shares during the period. LS Investment Advisors LLC grew its position in shares of Lowe’s Companies by 3.2% in the 3rd quarter. LS Investment Advisors LLC now owns 6,442 shares of the home improvement retailer’s stock valued at $1,745,000 after purchasing an additional 200 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at approximately $222,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the subject of several research analyst reports. Gordon Haskett decreased their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Bank of America upped their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Truist Financial upped their price target on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein started coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.44.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 directly 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Price Performance

LOW stock opened at $270.00 on Friday. The company has a fifty day moving average price of $263.77 and a two-hundred day moving average price of $241.67. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01. The stock has a market cap of $153.17 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.56 earnings per share. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 38.14%.

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.