Financial Strategies Group Inc. Buys 2,945 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Financial Strategies Group Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 20.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,332 shares of the home improvement retailer’s stock after purchasing an additional 2,945 shares during the period. Lowe’s Companies comprises approximately 1.1% of Financial Strategies Group Inc.’s investment portfolio, making the stock its 26th biggest holding. Financial Strategies Group Inc.’s holdings in Lowe’s Companies were worth $4,236,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $25,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the third quarter worth about $26,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $28,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Gordon Haskett restated a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Mizuho initiated coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price on the stock. Oppenheimer restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Truist Financial cut their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $250.41.

Lowe’s Companies Price Performance

NYSE LOW traded down $0.70 during trading hours on Tuesday, hitting $212.86. The company’s stock had a trading volume of 1,265,252 shares, compared to its average volume of 2,544,571. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company’s 50 day simple moving average is $225.32 and its two-hundred day simple moving average is $228.49. The company has a market cap of $121.30 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping 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 company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the company earned $3.67 EPS. Lowe’s Companies’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.28%. Lowe’s Companies’s payout ratio is 35.34%.

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.