Ashton Thomas Private Wealth LLC Raises Holdings in Lowe’s Companies, Inc. $LOW

Ashton Thomas Private Wealth LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 32.7% during the third quarter, Holdings Channel reports. The institutional investor owned 11,928 shares of the home improvement retailer’s stock after purchasing an additional 2,940 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Lowe’s Companies were worth $2,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LOW. Norges Bank acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth $1,773,624,000. Tableaux LLC purchased a new stake in Lowe’s Companies during the second quarter worth about $282,884,000. Laurel Wealth Advisors LLC grew its position in Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after buying an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC grew its position in Lowe’s Companies by 243.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock worth $247,817,000 after buying an additional 791,526 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Lowe’s Companies by 101.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock valued at $312,866,000 after buying an additional 626,829 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LOW. Morgan Stanley boosted their price target on Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Evercore ISI boosted their target price on Lowe’s Companies from $250.00 to $280.00 in a research report on Tuesday, January 27th. Truist Financial set a $295.00 price target on Lowe’s Companies in a research report on Friday, January 16th. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a research note on Tuesday, January 13th. Finally, Mizuho lowered their price objective on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.81.

Lowe’s Companies Stock Down 0.4%

Shares of NYSE:LOW opened at $274.85 on Friday. The company has a market capitalization of $154.18 billion, a P/E ratio of 22.79, a P/E/G ratio of 4.31 and a beta of 0.97. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The stock’s fifty day simple moving average is $256.54 and its 200-day simple moving average is $249.22.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.89 EPS. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.80%.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.