Tyche Wealth Partners LLC Buys New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Tyche Wealth Partners LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,477 shares of the home improvement retailer’s stock, valued at approximately $2,332,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Axiom Financial Strategies LLC increased its position in Lowe’s Companies by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after purchasing an additional 123 shares during the period. United Bank increased its position in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after purchasing an additional 617 shares during the period. Prudential PLC purchased a new position in Lowe’s Companies during the 1st quarter valued at $1,629,000. Baird Financial Group Inc. increased its position in Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after purchasing an additional 920 shares during the period. Finally, Covestor Ltd increased its position in Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after purchasing an additional 126 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.7 %

Lowe’s Companies stock traded down $1.70 during midday trading on Tuesday, hitting $228.31. The stock had a trading volume of 2,200,935 shares, compared to its average volume of 2,567,834. The firm’s fifty day moving average is $238.95 and its two-hundred day moving average is $218.17. The company has a market capitalization of $130.63 billion, a PE ratio of 17.43, a P/E/G ratio of 1.72 and a beta of 1.13. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.43%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LOW. The Goldman Sachs Group boosted their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Mizuho assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price on the stock. Citigroup upped their target price on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 21st. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Monday, March 4th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $252.52.

About Lowe’s Companies

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.