Hobbs Group Advisors LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Hobbs Group Advisors LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 848 shares of the home improvement retailer’s stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LOW. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter worth $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $28,000. Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $35,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.2 %

LOW stock traded down $2.88 during trading on Tuesday, hitting $240.33. 3,898,027 shares of the company’s stock traded hands, compared to its average volume of 2,539,220. The stock has a market capitalization of $136.95 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $230.39 and a two-hundred day moving average price of $232.04.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the business posted $4.56 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research 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 was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued 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 was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LOW shares. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday. Truist Financial lowered their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. DA Davidson reduced their price objective on 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. Finally, JPMorgan Chase & Co. increased their target price on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.