Empowered Funds LLC Has $10.94 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

by · The Markets Daily

Empowered Funds LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,390 shares of the home improvement retailer’s stock after buying an additional 2,580 shares during the quarter. Empowered Funds LLC’s holdings in Lowe’s Companies were worth $10,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Empirical Finance LLC boosted its holdings in Lowe’s Companies by 1.5% during the third quarter. Empirical Finance LLC now owns 21,024 shares of the home improvement retailer’s stock valued at $5,694,000 after acquiring an additional 317 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in Lowe’s Companies by 1.1% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,642 shares of the home improvement retailer’s stock worth $3,153,000 after purchasing an additional 126 shares during the period. Connable Office Inc. lifted its stake in Lowe’s Companies by 0.5% during the third quarter. Connable Office Inc. now owns 12,515 shares of the home improvement retailer’s stock worth $3,390,000 after purchasing an additional 60 shares during the period. Black Diamond Financial LLC increased its holdings in shares of Lowe’s Companies by 13.8% during the third quarter. Black Diamond Financial LLC now owns 1,640 shares of the home improvement retailer’s stock worth $444,000 after buying an additional 199 shares in the last quarter. Finally, First Business Financial Services Inc. increased its holdings in shares of Lowe’s Companies by 2.1% during the third quarter. First Business Financial Services Inc. now owns 8,764 shares of the home improvement retailer’s stock worth $2,374,000 after buying an additional 179 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOW shares. Truist Financial raised their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company lifted 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 note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $273.84.

Read Our Latest Stock Report on Lowe’s Companies

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % 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.

Lowe’s Companies Trading Down 0.1 %

NYSE LOW traded down $0.21 during trading on Friday, reaching $270.14. The company’s stock had a trading volume of 426,151 shares, compared to its average volume of 2,430,518. The firm has a market capitalization of $153.25 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The firm has a 50 day moving average price of $266.16 and a 200 day moving average price of $243.06.

Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its quarterly 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 company had revenue of $23.59 billion during 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 firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Lowe’s Companies Profile

(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.

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