Independent Advisor Alliance Acquires 2,927 Shares of Lowe’s Companies, Inc. $LOW

Independent Advisor Alliance grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,349 shares of the home improvement retailer’s stock after acquiring an additional 2,927 shares during the quarter. Independent Advisor Alliance’s holdings in Lowe’s Companies were worth $14,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LOW. Vanguard Group Inc. grew its stake in Lowe’s Companies by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after acquiring an additional 366,977 shares during the period. State Street Corp lifted its holdings in Lowe’s Companies by 0.8% in the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock valued at $5,527,176,000 after acquiring an additional 207,826 shares during the period. Geode Capital Management LLC increased its position in Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after purchasing an additional 42,190 shares in the last quarter. Norges Bank purchased a new stake in Lowe’s Companies during the second quarter valued at about $1,773,624,000. Finally, Bank of New York Mellon Corp boosted its position in Lowe’s Companies by 12.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock valued at $1,079,320,000 after buying an additional 463,012 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

NYSE LOW opened at $266.93 on Friday. The company has a market cap of $149.73 billion, a P/E ratio of 22.13, a P/E/G ratio of 4.42 and a beta of 0.96. The business’s 50 day moving average price is $253.66 and its 200-day moving average price is $247.88. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same quarter last year, the business posted $2.89 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Lowe’s Companies’s payout ratio is currently 39.80%.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The stock was 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 owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LOW shares. Truist Financial set a $295.00 price objective on Lowe’s Companies in a research note on Friday, January 16th. Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a research report on Wednesday, January 7th. Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. TD Cowen lifted their price target on shares of Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada dropped their price objective on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $284.81.

Lowe’s Companies 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.