Accurate Wealth Management LLC Has $796,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Accurate Wealth Management LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,823 shares of the home improvement retailer’s stock after selling 113 shares during the quarter. Accurate Wealth Management LLC’s holdings in Lowe’s Companies were worth $796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOW. Stephens Consulting LLC increased its holdings 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 purchasing an additional 70 shares during the period. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $35,000. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the second quarter worth about $37,000. Tsfg LLC raised its position in shares of 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 acquiring an additional 100 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Lowe’s Companies in the second quarter worth approximately $49,000. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOW has been the subject of several analyst reports. Gordon Haskett lowered their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada dropped their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Melius Research initiated coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $268.42.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $281.64 on Friday. The stock has a market cap of $160.49 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01. The firm’s 50-day simple moving average is $257.37 and its 200 day simple moving average is $238.77.

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 the consensus estimate of $3.96 by $0.14. The firm 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.63%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. 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 is available at this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies 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.