Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,095 shares of the home improvement retailer’s stock after buying an additional 340 shares during the quarter. Concord Asset Management LLC VA’s holdings in Lowe’s Companies were worth $1,109,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JNBA Financial Advisors lifted its position in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC lifted its position in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares during the last quarter. Stephens Consulting LLC lifted its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Lowe’s Companies in the second quarter valued at about $37,000. Finally, Tsfg LLC increased its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.4 %

LOW stock opened at $269.40 on Friday. The company has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The business has a 50 day simple moving average of $267.19 and a 200-day simple moving average of $243.62.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. Research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Truist Financial boosted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $273.84.

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.