Proathlete Wealth Management LLC Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Proathlete Wealth Management LLC increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,755 shares of the home improvement retailer’s stock after purchasing an additional 66 shares during the quarter. Proathlete Wealth Management LLC’s holdings in Lowe’s Companies were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LOW. Tidemark LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies in the fourth quarter valued at about $28,000. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the first quarter worth about $35,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $33,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW traded down $1.93 during trading hours on Tuesday, reaching $248.57. The company’s stock had a trading volume of 1,772,362 shares, compared to its average volume of 2,534,498. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company’s 50-day moving average is $232.46 and its two-hundred day moving average is $232.93. The firm has a market capitalization of $141.64 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.56 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Bank of America cut their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Truist Financial lifted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $254.04.

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.