Prospera Financial Services Inc Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Prospera Financial Services Inc increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,968 shares of the home improvement retailer’s stock after acquiring an additional 2,698 shares during the period. Prospera Financial Services Inc’s holdings in Lowe’s Companies were worth $12,728,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in Lowe’s Companies by 693.5% during the third quarter. Meeder Asset Management Inc. now owns 23,829 shares of the home improvement retailer’s stock worth $6,454,000 after purchasing an additional 20,826 shares during the period. OneAscent Financial Services LLC acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth $994,000. Knuff & Co LLC raised its position in shares of Lowe’s Companies by 5.9% in the 3rd quarter. Knuff & Co LLC now owns 1,005 shares of the home improvement retailer’s stock worth $272,000 after buying an additional 56 shares during the period. Caprock Group LLC boosted its holdings in Lowe’s Companies by 2.5% in the third quarter. Caprock Group LLC now owns 15,427 shares of the home improvement retailer’s stock valued at $4,178,000 after acquiring an additional 383 shares during the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in Lowe’s Companies by 10.7% in the third quarter. Baron Wealth Management LLC now owns 3,403 shares of the home improvement retailer’s stock valued at $922,000 after acquiring an additional 329 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,334,678.06. This trade 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 Price Performance

Shares of LOW opened at $271.87 on Tuesday. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The stock has a fifty day moving average price of $267.74 and a 200 day moving average price of $244.04. The company has a market cap of $154.23 billion, a P/E ratio of 22.54, a PEG ratio of 2.21 and a beta of 1.10.

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 for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.56 EPS. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LOW. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company 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.