Aprio Wealth Management LLC Acquires 452 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Aprio Wealth Management LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 24.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,330 shares of the home improvement retailer’s stock after purchasing an additional 452 shares during the period. Aprio Wealth Management LLC’s holdings in Lowe’s Companies were worth $631,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chapin Davis Inc. increased its stake in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after acquiring an additional 41 shares during the period. Affinity Capital Advisors LLC bought a new position in Lowe’s Companies during the third quarter valued at about $215,000. Versant Capital Management Inc increased its stake in Lowe’s Companies by 7.4% during the third quarter. Versant Capital Management Inc now owns 4,929 shares of the home improvement retailer’s stock valued at $1,335,000 after acquiring an additional 339 shares during the period. Atwood & Palmer Inc. increased its stake in Lowe’s Companies by 2.2% during the third quarter. Atwood & Palmer Inc. now owns 70,445 shares of the home improvement retailer’s stock valued at $19,080,000 after acquiring an additional 1,530 shares during the period. Finally, Foster Group Inc. increased its stake in Lowe’s Companies by 5.0% during the third quarter. Foster Group Inc. now owns 1,715 shares of the home improvement retailer’s stock valued at $464,000 after acquiring an additional 81 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the chief accounting officer now directly 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 Securities & Exchange Commission, which is accessible through this link. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was 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 approximately $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. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LOW shares. Bank of America lowered their price target on 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. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. 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 report on Wednesday, August 21st. UBS Group lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Morgan Stanley lifted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.54.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $268.54 on Tuesday. The stock has a market capitalization of $153.02 billion, a price-to-earnings ratio of 21.57, a PEG 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 $274.16. The firm has a fifty day moving average of $249.61 and a two-hundred day moving average of $236.95.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates 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 for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.56 EPS. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors 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 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 yield of 1.71%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.