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

Avidian Wealth Solutions LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 25.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,271 shares of the home improvement retailer’s stock after purchasing an additional 258 shares during the period. Avidian Wealth Solutions LLC’s holdings in Lowe’s Companies were worth $324,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LOW. Norges Bank bought a new position in Lowe’s Companies in the 4th quarter worth about $1,638,746,000. Charles Schwab Investment Management Inc. lifted its position in Lowe’s Companies by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after purchasing an additional 41,451 shares during the last quarter. Schroder Investment Management Group lifted its position in Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $430,090,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Lowe’s Companies by 14.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock worth $337,463,000 after buying an additional 194,070 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LOW shares. Mizuho started coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target for the company. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. DA Davidson decreased their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Finally, Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $250.41.

Lowe’s Companies Stock Up 3.0 %

Shares of NYSE LOW traded up $6.57 during midday trading on Thursday, hitting $227.31. The stock had a trading volume of 1,074,201 shares, compared to its average volume of 2,526,181. The business’s 50 day moving average is $222.93 and its 200-day moving average is $227.96. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company has a market cap of $129.53 billion, a P/E ratio of 18.09, a PEG ratio of 1.66 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 EPS. As a group, analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 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.