Drive Wealth Management LLC Has $528,000 Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Drive Wealth Management LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,950 shares of the home improvement retailer’s stock after acquiring an additional 56 shares during the period. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Edgestream Partners L.P. boosted its stake in Lowe’s Companies by 2.8% during the first quarter. Edgestream Partners L.P. now owns 6,236 shares of the home improvement retailer’s stock worth $1,588,000 after buying an additional 172 shares in the last quarter. Trustmark National Bank Trust Department boosted its position in shares of Lowe’s Companies by 26.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 1,649 shares of the home improvement retailer’s stock valued at $420,000 after acquiring an additional 346 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in Lowe’s Companies by 2.0% in the first quarter. Bahl & Gaynor Inc. now owns 51,435 shares of the home improvement retailer’s stock valued at $13,102,000 after acquiring an additional 999 shares during the period. Rockport Wealth LLC acquired a new position in Lowe’s Companies in the first quarter worth about $488,000. Finally, Invesco LLC bought a new position in Lowe’s Companies during the first quarter worth about $252,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $269.40 on Monday. The firm’s 50 day moving average price is $267.19 and its two-hundred day moving average price is $243.74. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The stock has a market cap of $152.83 billion, a PE ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the company earned $4.56 EPS. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost 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 1.71%. Lowe’s Companies’s dividend payout ratio is 38.14%.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 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 41.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley boosted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $273.84.

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.