795 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Bought by Alpha Financial Advisors LLC

19 Oct 2024, 19:51 by Doug Wharley · The Cerbat Gem

Alpha Financial Advisors LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 795 shares of the home improvement retailer’s stock, valued at approximately $215,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. raised its position in Lowe’s Companies by 20.1% in the third quarter. ST Germain D J Co. Inc. now owns 5,099 shares of the home improvement retailer’s stock valued at $1,381,000 after purchasing an additional 854 shares during the period. Raymond James & Associates raised its position in Lowe’s Companies by 0.4% in the third quarter. Raymond James & Associates now owns 774,555 shares of the home improvement retailer’s stock valued at $209,788,000 after purchasing an additional 3,249 shares during the period. Slow Capital Inc. raised its position in Lowe’s Companies by 4.8% in the third quarter. Slow Capital Inc. now owns 13,529 shares of the home improvement retailer’s stock valued at $3,664,000 after purchasing an additional 620 shares during the period. First Citizens Bank & Trust Co. raised its position in Lowe’s Companies by 9.1% in the third quarter. First Citizens Bank & Trust Co. now owns 49,509 shares of the home improvement retailer’s stock valued at $13,410,000 after purchasing an additional 4,122 shares during the period. Finally, Capital Investment Advisors LLC raised its position in Lowe’s Companies by 1.1% in the third quarter. Capital Investment Advisors LLC now owns 7,355 shares of the home improvement retailer’s stock valued at $1,992,000 after purchasing an additional 80 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.1 %

LOW traded up $0.33 during trading on Friday, reaching $281.64. The stock had a trading volume of 2,031,301 shares, compared to its average volume of 2,450,833. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01. The stock has a 50 day moving average of $257.37 and a two-hundred day moving average of $238.81. The firm has a market capitalization of $160.49 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 EPS. The company’s quarterly 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 fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

Several research firms have commented on LOW. Gordon Haskett cut their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Telsey Advisory Group lifted their target price on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted 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. Truist Financial lifted their target price on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.42.

View Our Latest Stock Report on Lowe’s Companies

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, 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. Corporate insiders own 0.26% of the company’s stock.

About Lowe’s Companies

(Free Report)

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.