Reston Wealth Management LLC Purchases New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Reston Wealth Management 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 and Exchange Commission (SEC). The fund acquired 235 shares of the home improvement retailer’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Mirae Asset Global Investments Co. Ltd. increased its stake in Lowe’s Companies by 2.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 158,580 shares of the home improvement retailer’s stock worth $40,395,000 after purchasing an additional 4,538 shares during the period. Resonant Capital Advisors LLC grew its stake in Lowe’s Companies by 10.4% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,401 shares of the home improvement retailer’s stock worth $2,904,000 after acquiring an additional 1,077 shares in the last quarter. Schear Investment Advisers LLC raised its stake in shares of Lowe’s Companies by 5.5% during the first quarter. Schear Investment Advisers LLC now owns 1,295 shares of the home improvement retailer’s stock valued at $330,000 after acquiring an additional 68 shares in the last quarter. Capital Investment Counsel Inc raised its position in Lowe’s Companies by 16.5% during the 1st quarter. Capital Investment Counsel Inc now owns 116,426 shares of the home improvement retailer’s stock valued at $29,657,000 after purchasing an additional 16,450 shares in the last quarter. Finally, PDS Planning Inc lifted its stake in Lowe’s Companies by 4.3% in the first quarter. PDS Planning Inc now owns 4,351 shares of the home improvement retailer’s stock worth $1,108,000 after acquiring an additional 181 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The shares were 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 owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday. UBS Group boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Evercore ISI increased their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Finally, Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $271.60.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $261.83 on Friday. Lowe’s Companies, Inc. has a one year low of $187.77 and a one year high of $287.01. The company has a 50-day simple moving average of $262.57 and a 200-day simple moving average of $240.60. The stock has a market capitalization of $148.53 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating 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 negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 EPS. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 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.