Elk River Wealth Management LLC Has $7.64 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Elk River Wealth Management LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,199 shares of the home improvement retailer’s stock after selling 66 shares during the quarter. Lowe’s Companies accounts for 1.4% of Elk River Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Elk River Wealth Management LLC’s holdings in Lowe’s Companies were worth $7,638,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LOW. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the period. Legal & General Group Plc grew its position in shares of Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after buying an additional 90,945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Lowe’s Companies by 11.1% in the second 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 buying an additional 149,649 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.8 %

LOW traded up $2.26 during midday trading on Monday, hitting $278.02. 177,349 shares of the company were exchanged, compared to its average volume of 2,453,314. The firm has a market capitalization of $158.43 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. The firm’s 50 day moving average price is $252.80 and its 200-day moving average price is $237.58. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $278.32.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate 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 business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent research reports. Evercore ISI raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Melius Research began coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Insider Activity at Lowe’s Companies

In other 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.