Castle Wealth Management LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Castle Wealth Management LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,827 shares of the home improvement retailer’s stock after buying an additional 90 shares during the period. Castle Wealth Management LLC’s holdings in Lowe’s Companies were worth $852,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Dynamic Advisor Solutions LLC increased its stake in Lowe’s Companies by 33.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,345 shares of the home improvement retailer’s stock worth $695,000 after buying an additional 843 shares in the last quarter. Harbour Trust & Investment Management Co purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $5,890,000. Meridian Wealth Management LLC grew its position in shares of Lowe’s Companies by 100.4% during the third quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer’s stock valued at $6,492,000 after purchasing an additional 15,612 shares in the last quarter. Biondo Investment Advisors LLC grew its position in shares of Lowe’s Companies by 1.0% during the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after purchasing an additional 620 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its position in shares of Lowe’s Companies by 18.6% during the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after purchasing an additional 584 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research analyst reports. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Morgan Stanley raised their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Gordon Haskett restated a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Finally, UBS Group raised their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Stock Performance

NYSE LOW traded up $1.47 during trading on Friday, hitting $230.26. The stock had a trading volume of 2,112,198 shares, compared to its average volume of 2,546,613. The stock has a market capitalization of $131.75 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.69 and a beta of 1.13. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a 50 day simple moving average of $239.62 and a 200 day simple moving average of $218.63.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion for 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 company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company posted $2.28 earnings per share. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

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.