Pekin Hardy Strauss Inc. Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Pekin Hardy Strauss Inc. acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 817 shares of the home improvement retailer’s stock, valued at approximately $221,000.

Several other institutional investors have also added to or reduced their stakes in the stock. JNBA Financial Advisors lifted its holdings in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in Lowe’s Companies by 118.6% in the 3rd 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 in the last quarter. Stephens Consulting LLC boosted its position in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC raised its holdings in shares of Lowe’s Companies by 128.2% in 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.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. 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 NYSE LOW opened at $275.33 on Tuesday. Lowe’s Companies, Inc. has a one year low of $196.32 and a one year high of $287.01. The firm has a market cap of $156.19 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 2.22 and a beta of 1.10. The stock’s fifty day moving average price is $269.11 and its two-hundred day moving average price is $245.19.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.67%. Lowe’s Companies’s payout ratio is 38.37%.

Analyst Ratings Changes

LOW has been the subject of a number of analyst reports. Mizuho raised their target price on shares of Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays lifted their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Bank of America increased their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Truist Financial boosted their price target on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

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.