Echo45 Advisors LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Echo45 Advisors LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, HoldingsChannel reports. The fund bought 850 shares of the home improvement retailer’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Crew Capital Management Ltd. increased its position in Lowe’s Companies by 1.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC grew its stake in shares of Lowe’s Companies by 2.8% during the third 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 last quarter. Clean Yield Group lifted its stake in shares of Lowe’s Companies by 2.4% in the 3rd 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 last quarter. Drive Wealth Management LLC boosted its holdings 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 valued at $418,000 after acquiring an additional 41 shares in the last quarter. Finally, Chapin Davis Inc. grew its position in Lowe’s Companies by 1.3% during the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $1.24 during midday trading on Wednesday, hitting $264.21. 305,858 shares of the stock traded hands, compared to its average volume of 2,434,712. Lowe’s Companies, Inc. has a one year low of $187.77 and a one year high of $287.01. The business has a 50 day moving average price of $261.76 and a two-hundred day moving average price of $240.30. The company has a market cap of $150.56 billion, a PE ratio of 21.12, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group raised their price target on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, UBS Group lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $271.60.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the executive vice president now directly 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 document filed with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

About Lowe’s Companies

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.