B. Riley Wealth Advisors Inc. Sells 5,675 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,133 shares of the home improvement retailer’s stock after selling 5,675 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lowe’s Companies were worth $3,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Drive Wealth Management LLC boosted its position in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the last quarter. Crown Wealth Group LLC lifted its stake in shares of Lowe’s Companies by 4.4% in the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after purchasing an additional 44 shares during the period. Pure Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after buying an additional 45 shares during the last quarter. BLB&B Advisors LLC grew its position in Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after buying an additional 45 shares during the period. Finally, First Bank & Trust increased its holdings in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after buying an additional 46 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 1.4 %

Shares of LOW opened at $270.85 on Tuesday. The business has a fifty day moving average of $246.83 and a 200 day moving average of $236.29. The company has a market cap of $154.34 billion, a PE ratio of 21.76, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $271.27.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LOW shares. UBS Group boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Truist Financial lifted their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Bank of America decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $260.00.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies 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.