Baron Wealth Management LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Baron Wealth Management LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,403 shares of the home improvement retailer’s stock after acquiring an additional 329 shares during the quarter. Lowe’s Companies makes up about 0.4% of Baron Wealth Management LLC’s portfolio, making the stock its 29th biggest holding. Baron Wealth Management LLC’s holdings in Lowe’s Companies were worth $922,000 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. Legal & General Group Plc grew its holdings in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after buying an additional 82,978 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Lowe’s Companies by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock valued at $330,473,000 after acquiring an additional 149,649 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler upped their target price 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. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Gordon Haskett reduced their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $273.84.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $271.87 on Tuesday. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The business has a fifty day moving average of $267.74 and a two-hundred day moving average of $244.04. The company has a market cap of $154.23 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

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

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

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.