MainStreet Investment Advisors LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,994 shares of the home improvement retailer’s stock after purchasing an additional 1,028 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Lowe’s Companies were worth $1,119,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cordasco Financial Network acquired a new position in Lowe’s Companies in the 1st quarter worth about $25,000. Benjamin Edwards Inc. raised its holdings in Lowe’s Companies by 43.0% in the 1st quarter. Benjamin Edwards Inc. now owns 296 shares of the home improvement retailer’s stock worth $25,000 after purchasing an additional 89 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Lowe’s Companies by 146.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 303 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 180 shares during the period. Filbrandt Wealth Management LLC acquired a new position in Lowe’s Companies in the 4th quarter worth about $29,000. Finally, Islay Capital Management LLC acquired a new position in Lowe’s Companies in the 4th quarter worth about $30,000. 76.15% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on LOW shares. Wells Fargo & Co reaffirmed a “buy” rating and issued a $135.00 price target on shares of Lowe’s Companies in a report on Wednesday. Zacks Investment Research cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $108.00 target price for the company. in a report on Tuesday, April 28th. Longbow Research increased their target price on Lowe’s Companies from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus raised Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $149.00 in a report on Wednesday. Finally, Piper Sandler increased their target price on Lowe’s Companies from $139.00 to $147.00 and gave the company an “overweight” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus target price of $132.54.
In other Lowe’s Companies news, CEO Marvin R. Ellison acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $103.86 per share, for a total transaction of $1,038,600.00. Following the completion of the transaction, the chief executive officer now owns 90,090 shares of the company’s stock, valued at approximately $9,356,747.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
Lowe’s Companies stock traded up $1.61 during mid-day trading on Friday, hitting $122.25. The company’s stock had a trading volume of 6,063,492 shares, compared to its average volume of 6,207,421. The firm has a market capitalization of $91.08 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. Lowe’s Companies, Inc. has a 1 year low of $60.00 and a 1 year high of $126.73. The company has a current ratio of 1.20, a quick ratio of 0.14 and a debt-to-equity ratio of 14.05. The stock’s fifty day moving average is $101.42 and its two-hundred day moving average is $110.02.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.45. The company had revenue of $19.68 billion during the quarter, compared to analyst estimates of $18.33 billion. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 5.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a $2.20 annualized dividend and a yield of 1.80%. Lowe’s Companies’s payout ratio is 38.46%.
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 lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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