Prestige Wealth Management Group LLC Buys 252 Shares of Lowe's Companies, Inc. (NYSE:LOW)

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Prestige Wealth Management Group LLC increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,354 shares of the home improvement retailer’s stock after purchasing an additional 252 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Lowe's Companies were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighMark Wealth Management LLC grew its stake in shares of Lowe's Companies by 272.1% during the third quarter. HighMark Wealth Management LLC now owns 160 shares of the home improvement retailer’s stock valued at $28,000 after purchasing an additional 117 shares during the last quarter. Syntal Capital Partners LLC bought a new stake in shares of Lowe's Companies during the third quarter valued at approximately $1,511,000. MAI Capital Management grew its stake in shares of Lowe's Companies by 74.6% during the third quarter. MAI Capital Management now owns 166,438 shares of the home improvement retailer’s stock valued at $27,605,000 after purchasing an additional 71,132 shares during the last quarter. Schwab Charitable Fund bought a new stake in shares of Lowe's Companies during the third quarter valued at approximately $200,000. Finally, Annex Advisory Services LLC bought a new stake in shares of Lowe's Companies during the third quarter valued at approximately $251,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on LOW shares. Oppenheimer cut shares of Lowe's Companies from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $185.00 to $180.00 in a research note on Friday, September 18th. BofA Securities raised their price objective on shares of Lowe's Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Telsey Advisory Group raised their price objective on shares of Lowe's Companies from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Zacks Investment Research raised shares of Lowe's Companies from a “hold” rating to a “strong-buy” rating and set a $187.00 price objective on the stock in a research note on Monday, August 24th. Finally, Piper Sandler raised their price objective on shares of Lowe's Companies from $170.00 to $185.00 in a research note on Thursday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $170.13.

In related news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total value of $10,577,520.54. Following the completion of the transaction, the executive vice president now owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.

Shares of NYSE:LOW traded down $4.01 during midday trading on Monday, reaching $168.13. 4,373,739 shares of the company were exchanged, compared to its average volume of 5,067,622. Lowe's Companies, Inc. has a fifty-two week low of $60.00 and a fifty-two week high of $180.67. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64. The stock has a fifty day simple moving average of $165.70 and a two-hundred day simple moving average of $138.46. The firm has a market cap of $127.06 billion, a PE ratio of 22.36, a P/E/G ratio of 1.24 and a beta of 1.48.

Lowe's Companies (NYSE:LOW) last released its earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.80. The business had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. Lowe's Companies had a net margin of 7.12% and a return on equity of 228.17%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.15 earnings per share. As a group, analysts forecast that Lowe's Companies, Inc. will post 8.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. This is an increase from Lowe's Companies’s previous quarterly dividend of $0.55. Lowe's Companies’s dividend payout ratio (DPR) is 41.96%.

About Lowe's Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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