Empowered Funds LLC Acquires 2,580 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Empowered Funds LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 40,390 shares of the home improvement retailer’s stock after buying an additional 2,580 shares during the quarter. Empowered Funds LLC’s holdings in Lowe’s Companies were worth $10,940,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. JNBA Financial Advisors increased its holdings in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the period. Stephens Consulting LLC boosted its position in shares of 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 acquiring an additional 70 shares during the period. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $37,000. Finally, Tsfg LLC lifted its position in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Trading Down 0.1 %

NYSE LOW traded down $0.21 on Friday, reaching $270.14. 426,151 shares of the stock were exchanged, compared to its average volume of 2,430,518. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The firm has a market capitalization of $153.25 billion, a PE ratio of 22.42, a PEG ratio of 2.24 and a beta of 1.10. The company’s 50-day simple moving average is $266.16 and its two-hundred day simple moving average is $243.06.

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

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.70%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 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.