Darwin Wealth Management LLC Takes $661,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Darwin Wealth Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,440 shares of the home improvement retailer’s stock, valued at approximately $661,000.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after acquiring an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its stake in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Lowe’s Companies by 170.5% during the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research analyst reports. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Stifel Nicolaus increased their target price on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler increased their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Stock Down 0.0 %

Shares of Lowe’s Companies stock opened at $259.19 on Wednesday. The business’s fifty day moving average is $267.97 and its two-hundred day moving average is $244.23. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The firm has a market cap of $147.04 billion, a PE ratio of 21.50, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.56 earnings per share. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given 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 dividend yield of 1.77%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on 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 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 represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.