Independent Advisor Alliance Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Independent Advisor Alliance boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the third quarter, Holdings Channel.com reports. The firm owned 53,766 shares of the home improvement retailer’s stock after acquiring an additional 322 shares during the quarter. Independent Advisor Alliance’s holdings in Lowe’s Companies were worth $14,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. 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 worth $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC raised its holdings in Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group grew its holdings in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted 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 worth $2,021,000 after purchasing an additional 40 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its stake in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.2 %

NYSE LOW opened at $264.68 on Monday. The company has a market cap of $150.15 billion, a P/E ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10. The company has a fifty day simple moving average of $268.74 and a 200 day simple moving average of $244.92. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.74%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 38.37%.

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 dated 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 in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Truist Financial upped their price objective on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein cut their price objective on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada increased their target price on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 20th. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Company 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.