BIP Wealth LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

BIP Wealth LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, Holdings Channel.com reports. The firm bought 1,210 shares of the home improvement retailer’s stock, valued at approximately $328,000.

Several other institutional investors also recently bought and sold shares of LOW. Crew Capital Management Ltd. boosted its holdings in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after acquiring an additional 37 shares during the period. Summit Place Financial Advisors LLC increased its position in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares during the period. Clean Yield Group boosted its position in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC grew its stake in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $259.23 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01. The stock has a market capitalization of $147.06 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The stock has a fifty day moving average of $267.97 and a 200-day moving average of $244.23.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the business posted $4.56 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.77%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Analyst Ratings Changes

Several equities analysts have commented on LOW shares. TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Evercore ISI upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

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.