Spectrum Wealth Advisory Group LLC Invests $206,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Spectrum Wealth Advisory Group LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to its most recent filing with the SEC. The fund bought 810 shares of the home improvement retailer’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. Cullinan Associates Inc. raised its stake in Lowe’s Companies by 7.2% in the 1st quarter. Cullinan Associates Inc. now owns 103,802 shares of the home improvement retailer’s stock valued at $26,441,000 after acquiring an additional 6,943 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Lowe’s Companies by 2.4% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,847 shares of the home improvement retailer’s stock valued at $3,018,000 after acquiring an additional 273 shares during the period. Hexagon Capital Partners LLC raised its stake in Lowe’s Companies by 22.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,895 shares of the home improvement retailer’s stock valued at $483,000 after acquiring an additional 353 shares during the period. Park Place Capital Corp grew its holdings in Lowe’s Companies by 106.7% during the 1st quarter. Park Place Capital Corp now owns 1,356 shares of the home improvement retailer’s stock valued at $345,000 after buying an additional 700 shares in the last quarter. Finally, Claro Advisors LLC grew its holdings in Lowe’s Companies by 16.2% during the 1st quarter. Claro Advisors LLC now owns 1,739 shares of the home improvement retailer’s stock valued at $443,000 after buying an additional 243 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LOW shares. Stifel Nicolaus lifted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Evercore ISI cut their price objective on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $250.41.

Lowe’s Companies Stock Down 0.5 %

Shares of NYSE:LOW traded down $1.05 on Tuesday, hitting $212.51. The company had a trading volume of 958,386 shares, compared to its average volume of 2,542,135. The firm’s 50-day simple moving average is $225.32 and its two-hundred day simple moving average is $228.49. The firm has a market capitalization of $121.10 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued 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 net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the business posted $3.67 earnings per share. Lowe’s Companies’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

Lowe’s Companies 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.