OneAscent Financial Services LLC Invests $994,000 in Lowe's Companies, Inc. (NYSE:LOW)

OneAscent Financial Services LLC bought a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 3,670 shares of the home improvement retailer's stock, valued at approximately $994,000. Lowe's Companies accounts for 0.7% of OneAscent Financial Services LLC's investment portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bamco Inc. NY grew its position in shares of Lowe's Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer's stock valued at $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd raised its stake in Lowe's Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer's stock valued at $1,606,000 after buying an additional 5,470 shares in the last quarter. HM Payson & Co. grew its holdings in shares of Lowe's Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer's stock worth $58,409,000 after purchasing an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of Lowe's Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer's stock worth $5,637,000 after buying an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its holdings in Lowe's Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer's stock valued at $43,290,000 after purchasing an additional 20,123 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Performance

NYSE:LOW traded down $12.54 during mid-day trading on Tuesday, reaching $259.23. 4,207,691 shares of the company's stock were exchanged, compared to its average volume of 2,448,560. Lowe's Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The firm has a market capitalization of $147.06 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The business's fifty day simple moving average is $267.97 and its two-hundred day simple moving average is $244.23.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for 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 revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $4.56 EPS. As a group, equities research analysts forecast that Lowe's Companies, Inc. will post 11.93 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $0.15. Lowe's Companies's payout ratio is 38.14%.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, 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 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on LOW shares. TD Cowen lifted their target price on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research note on Tuesday. Truist Financial lifted their price target on shares of Lowe's Companies from $306.00 to $307.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Royal Bank of Canada decreased their target price on shares of Lowe's Companies from $245.00 to $238.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 21st. Finally, Melius Research began coverage on shares of Lowe's Companies in a report on Monday, September 23rd. They set a "buy" rating and a $290.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $273.84.

Lowe's Companies 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.