AlphaCore Capital LLC Acquires Shares of 1,370 Lowe’s Companies, Inc. (NYSE:LOW)

AlphaCore Capital LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,370 shares of the home improvement retailer’s stock, valued at approximately $371,000.

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

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 directly owns 9,383 shares in the company, 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. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

NYSE:LOW opened at $265.50 on Friday. The stock has a market cap of $150.62 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock’s 50-day moving average is $268.56 and its two-hundred day moving average is $244.50. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.56 EPS. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.73%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI upped their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a report on Wednesday. Bank of America increased their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $277.92.

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.