Atomi Financial Group Inc. Has $1.79 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Atomi Financial Group Inc. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 53.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,590 shares of the home improvement retailer’s stock after buying an additional 2,301 shares during the period. Atomi Financial Group Inc.’s holdings in Lowe’s Companies were worth $1,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its position in shares of Lowe’s Companies by 107.9% in the 4th quarter. 1832 Asset Management L.P. now owns 447 shares of the home improvement retailer’s stock worth $99,000 after acquiring an additional 232 shares in the last quarter. MGO One Seven LLC lifted its stake in Lowe’s Companies by 42.2% in the fourth quarter. MGO One Seven LLC now owns 17,428 shares of the home improvement retailer’s stock valued at $3,879,000 after buying an additional 5,172 shares during the period. Rench Wealth Management Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $466,000. Vista Investment Management increased its stake in shares of Lowe’s Companies by 2.4% in the 4th quarter. Vista Investment Management now owns 11,586 shares of the home improvement retailer’s stock valued at $2,579,000 after acquiring an additional 271 shares in the last quarter. Finally, Ethic Inc. grew its holdings in Lowe’s Companies by 1.1% in the fourth quarter. Ethic Inc. now owns 34,827 shares of the home improvement retailer’s stock worth $7,751,000 after purchasing an additional 390 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Price Performance

Shares of LOW opened at $273.27 on Wednesday. The firm has a market cap of $155.72 billion, a PE ratio of 21.95, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $274.26. The stock’s fifty day moving average price is $250.19 and its two-hundred day moving average price is $237.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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. The business had revenue of $23.59 billion for 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 company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 earnings per share. Sell-side 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change 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 1.68%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.54.

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.