Wedbush Securities Inc. Acquires 2,038 Shares of Lowe’s Companies, Inc. $LOW

Wedbush Securities Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.1% during the third quarter, Holdings Channel reports. The fund owned 14,730 shares of the home improvement retailer’s stock after acquiring an additional 2,038 shares during the period. Wedbush Securities Inc.’s holdings in Lowe’s Companies were worth $3,702,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Activest Wealth Management increased its holdings in shares of Lowe’s Companies by 78.5% in the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the 2nd quarter valued at $27,000. Solstein Capital LLC increased its stake in shares of Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the period. Traub Capital Management LLC acquired a new position in shares of Lowe’s Companies during the second quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 76 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. UBS Group cut their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Evercore increased their price objective on shares of Lowe’s Companies from $250.00 to $280.00 in a report on Tuesday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target on the stock in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.77.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Up 0.8%

LOW opened at $286.97 on Thursday. The stock has a market cap of $160.97 billion, a P/E ratio of 23.80, a P/E/G ratio of 4.45 and a beta of 0.97. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.34. The company has a fifty day simple moving average of $259.48 and a 200 day simple moving average of $250.94.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.