Acorn Wealth Advisors LLC Has $1.80 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Acorn Wealth Advisors LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,646 shares of the home improvement retailer’s stock after selling 56 shares during the period. Acorn Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,800,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ascent Group LLC grew its holdings in shares of Lowe’s Companies by 4.3% during the 1st quarter. Ascent Group LLC now owns 3,596 shares of the home improvement retailer’s stock valued at $916,000 after purchasing an additional 148 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in Lowe’s Companies by 15.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 46,509 shares of the home improvement retailer’s stock valued at $11,847,000 after buying an additional 6,212 shares in the last quarter. Waverly Advisors LLC increased its holdings in shares of Lowe’s Companies by 52.4% during the first quarter. Waverly Advisors LLC now owns 15,988 shares of the home improvement retailer’s stock worth $4,073,000 after buying an additional 5,499 shares in the last quarter. Whalerock Point Partners LLC lifted its stake in shares of Lowe’s Companies by 5.9% in the 1st quarter. Whalerock Point Partners LLC now owns 2,680 shares of the home improvement retailer’s stock valued at $683,000 after acquiring an additional 150 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Lowe’s Companies by 20.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 23,808 shares of the home improvement retailer’s stock valued at $6,065,000 after acquiring an additional 3,968 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 sale, the executive vice president now 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 is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 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. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 2.4 %

Shares of LOW stock traded up $6.26 during trading hours on Monday, hitting $270.94. 283,347 shares of the company were exchanged, compared to its average volume of 2,438,112. Lowe’s Companies, Inc. has a 52-week low of $196.32 and a 52-week high of $287.01. The firm has a fifty day simple moving average of $268.74 and a 200 day simple moving average of $244.92. The stock has a market capitalization of $153.70 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date was 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 dividend yield of 1.70%. Lowe’s Companies’s payout ratio is presently 38.37%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent research reports. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Truist Financial boosted their price objective on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Company 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.