Elk River Wealth Management LLC Sells 66 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Elk River Wealth Management LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the third quarter, Holdings Channel.com reports. The firm owned 28,199 shares of the home improvement retailer’s stock after selling 66 shares during the quarter. Lowe’s Companies accounts for approximately 1.4% of Elk River Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Elk River Wealth Management LLC’s holdings in Lowe’s Companies were worth $7,638,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Adamsbrown Wealth Consultants LLC boosted its stake in Lowe’s Companies by 17.5% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 2,211 shares of the home improvement retailer’s stock valued at $599,000 after purchasing an additional 330 shares during the last quarter. Stablepoint Partners LLC lifted its holdings in shares of Lowe’s Companies by 1.2% in the third quarter. Stablepoint Partners LLC now owns 9,317 shares of the home improvement retailer’s stock valued at $2,524,000 after purchasing an additional 111 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Lowe’s Companies during the third quarter valued at approximately $344,000. Paladin Wealth LLC purchased a new position in shares of Lowe’s Companies during the third quarter valued at approximately $877,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Lowe’s Companies by 9.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,111 shares of the home improvement retailer’s stock worth $1,655,000 after buying an additional 512 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LOW shares. Truist Financial raised their price objective on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen boosted their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Royal Bank of Canada dropped their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Finally, Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $268.42.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $2.26 during trading hours on Monday, reaching $278.02. The company had a trading volume of 177,349 shares, compared to its average volume of 2,453,314. The firm has a market cap of $158.43 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $278.32. The business has a fifty day simple moving average of $252.80 and a 200 day simple moving average of $237.58.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the company earned $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.65%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed 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 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. The trade was a 0.00 % 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 the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % 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.

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.