OneAscent Wealth Management LLC Acquires New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

OneAscent Wealth Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,548 shares of the home improvement retailer’s stock, valued at approximately $419,000.

Other large investors have also made changes to their positions in the company. JNBA Financial Advisors increased its position in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares in the last quarter. Stephens Consulting LLC increased its position in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $37,000. Finally, Tsfg LLC increased its position in shares of Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LOW shares. Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI increased their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. TD Cowen increased 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. Wells Fargo & Company increased their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Melius Research initiated coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

NYSE:LOW traded up $1.86 during mid-day trading on Monday, hitting $271.26. The stock had a trading volume of 296,509 shares, compared to its average volume of 2,429,822. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The stock has a market cap of $153.88 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10. The company’s 50 day simple moving average is $267.19 and its 200 day simple moving average is $243.74.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $4.56 earnings per share. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

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.