SteelPeak Wealth LLC Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

SteelPeak Wealth LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,797 shares of the home improvement retailer’s stock after purchasing an additional 721 shares during the quarter. SteelPeak Wealth LLC’s holdings in Lowe’s Companies were worth $2,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Stephens Consulting LLC lifted its position in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies in the 1st quarter valued at about $35,000. MFA Wealth Advisors LLC grew its position in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Lowe’s Companies during the second quarter worth approximately $37,000. Finally, Tsfg LLC raised its position in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded up $0.44 during midday trading on Wednesday, reaching $263.41. The company’s stock had a trading volume of 521,161 shares, compared to its average volume of 2,435,737. Lowe’s Companies, Inc. has a 52-week low of $187.77 and a 52-week high of $287.01. The stock has a market capitalization of $150.10 billion, a P/E ratio of 21.12, a PEG ratio of 2.24 and a beta of 1.10. The stock’s 50-day simple moving average is $261.76 and its 200-day simple moving average is $240.30.

Lowe’s Companies (NYSE:LOW) last released its earnings results 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. 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 dividend on an annualized basis and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Bank of America raised their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Evercore ISI raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group upped their target price on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $271.60.

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.