Rockport Wealth LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Rockport Wealth LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,917 shares of the home improvement retailer’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Norges Bank bought a new stake in Lowe’s Companies in the fourth quarter worth $1,638,746,000. Charles Schwab Investment Management Inc. increased its position in Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after purchasing an additional 41,451 shares during the last quarter. Schroder Investment Management Group increased its position in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $430,090,000. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LOW shares. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Zelman & Associates restated a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Truist Financial dropped their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Hold” and a consensus target price of $250.04.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded down $1.96 during midday trading on Tuesday, hitting $238.31. 2,203,524 shares of the company’s stock were exchanged, compared to its average volume of 2,548,701. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm has a 50-day moving average of $223.67 and a two-hundred day moving average of $228.99. The company has a market cap of $135.80 billion, a PE ratio of 19.23, a P/E/G ratio of 1.83 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (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 company had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the business earned $3.67 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 35.34%.

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.