Thrive Wealth Management LLC Purchases 164 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Thrive Wealth Management LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 14.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,302 shares of the home improvement retailer’s stock after acquiring an additional 164 shares during the quarter. Thrive Wealth Management LLC’s holdings in Lowe’s Companies were worth $332,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Lowe’s Companies during the 4th quarter valued at $1,638,746,000. International Assets Investment Management LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at $430,090,000. Schroder Investment Management Group grew its holdings in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after purchasing an additional 1,831,727 shares during the last quarter. Canoe Financial LP purchased a new position in Lowe’s Companies in the 4th quarter worth about $206,912,000. Finally, Aristotle Capital Management LLC lifted its holdings in Lowe’s Companies by 143.8% during the 3rd quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock valued at $283,019,000 after buying an additional 803,216 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded up $1.07 during mid-day trading on Thursday, reaching $219.85. 2,654,196 shares of the company traded hands, compared to its average volume of 2,472,512. The firm’s fifty day moving average is $225.69 and its two-hundred day moving average is $228.22. The company has a market capitalization of $125.28 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the firm earned $3.67 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LOW. Evercore ISI dropped their target price on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 22nd. Truist Financial decreased their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. 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 target on the stock. Morgan Stanley raised their price target on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $251.33.

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.