Abacus Wealth Partners LLC Invests $537,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Abacus Wealth Partners LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,611 shares of the home improvement retailer’s stock, valued at approximately $537,000.

Other large investors have also modified their holdings of the company. SkyView Investment Advisors LLC bought a new stake in Lowe’s Companies in the first quarter valued at about $1,093,000. Guardian Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 11.9% in the 1st quarter. Guardian Wealth Advisors LLC now owns 2,105 shares of the home improvement retailer’s stock valued at $421,000 after purchasing an additional 224 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Lowe’s Companies by 0.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,782 shares of the home improvement retailer’s stock worth $4,556,000 after buying an additional 120 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Lowe’s Companies by 42.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 299,300 shares of the home improvement retailer’s stock worth $59,850,000 after buying an additional 89,003 shares in the last quarter. Finally, Providence Capital Advisors LLC lifted its position in shares of Lowe’s Companies by 19,964.5% during the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock worth $22,604,000 after buying an additional 4,497,594 shares during the period. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at approximately $5,600,676.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the sale, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 0.6 %

Shares of Lowe’s Companies stock opened at $230.42 on Wednesday. The business has a fifty day simple moving average of $227.72 and a 200 day simple moving average of $213.15. The stock has a market cap of $132.98 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. Lowe’s Companies, Inc. has a 12 month low of $176.50 and a 12 month high of $237.21.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.07. The company had revenue of $24.96 billion during the quarter, compared to analyst estimates of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.67 EPS. Analysts expect that Lowe’s Companies, Inc. will post 13.45 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 annualized dividend and a yield of 1.91%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.31%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LOW shares. Morgan Stanley increased their price objective on Lowe’s Companies from $235.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus initiated coverage on shares of Lowe’s Companies in a research report on Wednesday, September 6th. They issued a “buy” rating and a $270.00 price target on the stock. Piper Sandler raised their price objective on shares of Lowe’s Companies from $230.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. 888 reissued a “maintains” rating on shares of Lowe’s Companies in a report on Wednesday, May 17th. Finally, Barclays dropped their price target on Lowe’s Companies from $215.00 to $212.00 in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $237.48.

Lowe’s Companies Company Profile

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.