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

Ashton Thomas Private Wealth LLC boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 32.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,928 shares of the home improvement retailer’s stock after acquiring an additional 2,940 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Lowe’s Companies were worth $2,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Activest Wealth Management increased its holdings in shares of Lowe’s Companies by 78.5% in the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in Lowe’s Companies in the second quarter valued at approximately $27,000. Solstein Capital LLC boosted its holdings in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares in the last quarter. Traub Capital Management LLC purchased a new position in Lowe’s Companies in the second quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction 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 owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents 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.

Analysts Set New Price Targets

A number of research firms recently commented on LOW. Truist Financial set a $295.00 target price on shares of Lowe’s Companies in a research report on Friday, January 16th. Evercore ISI upped their price objective on shares of Lowe’s Companies from $250.00 to $280.00 in a research note on Tuesday, January 27th. Sanford C. Bernstein lifted their target price on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a report on Tuesday, January 13th. Finally, Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Nineteen research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.81.

Lowe’s Companies Stock Down 0.4%

NYSE LOW opened at $274.85 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The business’s 50-day moving average price is $256.54 and its 200 day moving average price is $249.22. The firm has a market cap 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 (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same period in the prior year, the business earned $2.89 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

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.