OMC Financial Services LTD Acquires New Position in Lowe’s Companies, Inc. (NYSE:LOW)

OMC Financial Services LTD bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,792 shares of the home improvement retailer’s stock, valued at approximately $4,277,000. Lowe’s Companies accounts for 2.2% of OMC Financial Services LTD’s portfolio, making the stock its 12th largest holding.

Other large investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter worth $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies in the fourth quarter worth about $28,000. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies in the first quarter worth about $35,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE:LOW traded down $0.94 during midday trading on Friday, hitting $240.42. The company’s stock had a trading volume of 2,258,921 shares, compared to its average volume of 2,483,161. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market cap of $137.00 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. The firm’s 50 day moving average is $225.93 and its 200-day moving average is $230.17.

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, beating the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 EPS. As a group, analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors 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 yield of 0.25%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Ratings Changes

A number of research firms have issued reports on LOW. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup decreased their price target on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Truist Financial reduced 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, May 21st. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.04.

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.