Axxcess Wealth Management LLC Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Axxcess Wealth Management LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 27.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,451 shares of the home improvement retailer’s stock after acquiring an additional 3,521 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lowe’s Companies were worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LOW. Brevan Howard Capital Management LP increased its position in shares of Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the last quarter. Bamco Inc. NY grew its position in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd increased its holdings in Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares during the last quarter. 17 Capital Partners LLC bought a new stake in Lowe’s Companies in the first quarter worth about $1,368,000. Finally, Gerber LLC purchased a new position in Lowe’s Companies in the fourth quarter valued at about $235,000. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $256.76 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock has a market cap of $146.31 billion, a P/E ratio of 20.62, a PEG ratio of 2.03 and a beta of 1.10. The firm’s fifty day moving average price is $241.71 and its 200-day moving average price is $234.94.

Lowe’s Companies (NYSE:LOW) last announced its earnings results 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 analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s payout ratio is presently 36.95%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Truist Financial boosted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $252.83.

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.