Kingswood Wealth Advisors LLC Buys 780 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Kingswood Wealth Advisors LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,895 shares of the home improvement retailer’s stock after buying an additional 780 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,079,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $1,638,746,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Lowe’s Companies by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after acquiring an additional 41,451 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Lowe’s Companies by 1.9% during the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after acquiring an additional 52,859 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock traded down $9.06 during midday trading on Wednesday, reaching $231.59. The stock had a trading volume of 3,349,259 shares, compared to its average volume of 2,540,370. The firm has a fifty day simple moving average of $226.87 and a two-hundred day simple moving average of $230.60. The stock has a market cap of $131.97 billion, a PE ratio of 19.32, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. Lowe’s Companies’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business 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 yield of 0.26%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LOW. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Evercore ISI dropped their price objective on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Truist Financial cut their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $250.19.

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.