Proactive Wealth Strategies LLC Takes $516,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Proactive Wealth Strategies LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,904 shares of the home improvement retailer’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Angeles Wealth Management LLC grew its stake in shares of Lowe’s Companies by 36.9% during the first quarter. Angeles Wealth Management LLC now owns 1,585 shares of the home improvement retailer’s stock worth $404,000 after purchasing an additional 427 shares during the period. Verus Capital Partners LLC bought a new position in Lowe’s Companies during the first quarter worth about $205,000. Avantax Advisory Services Inc. lifted its holdings in Lowe’s Companies by 22.8% during the first quarter. Avantax Advisory Services Inc. now owns 35,397 shares of the home improvement retailer’s stock worth $9,017,000 after acquiring an additional 6,579 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Lowe’s Companies by 9.1% during the first quarter. Bleakley Financial Group LLC now owns 10,712 shares of the home improvement retailer’s stock worth $2,729,000 after acquiring an additional 890 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in Lowe’s Companies by 91.8% during the first quarter. Koshinski Asset Management Inc. now owns 5,822 shares of the home improvement retailer’s stock worth $1,483,000 after acquiring an additional 2,787 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LOW shares. Gordon Haskett reduced their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Morgan Stanley lifted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, TD Cowen lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.84.

Insider Activity

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 value 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 approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value 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 approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was 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 owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $274.51 on Tuesday. The company has a market capitalization of $155.73 billion, a P/E ratio of 22.76, a P/E/G ratio of 2.23 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $192.10 and a 1 year high of $287.01. The business’s 50 day simple moving average is $265.13 and its 200 day simple moving average is $242.57.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the company earned $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.92 EPS for the current fiscal 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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. 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. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

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.