9258 Wealth Management LLC Has $405,000 Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

9258 Wealth Management LLC cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,838 shares of the home improvement retailer’s stock after selling 46 shares during the quarter. 9258 Wealth Management LLC’s holdings in Lowe’s Companies were worth $405,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Drive Wealth Management LLC boosted its holdings in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares in the last quarter. Crown Wealth Group LLC lifted its holdings in shares of Lowe’s Companies by 4.4% in the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after purchasing an additional 44 shares in the last quarter. Pure Financial Advisors LLC grew its position in Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares during the period. BLB&B Advisors LLC increased its stake in Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares in the last quarter. Finally, First Bank & Trust increased its stake in Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after purchasing an additional 46 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $244.13 on Friday. The firm has a market capitalization of $139.11 billion, a P/E ratio of 19.61, a PEG ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The business has a fifty day moving average price of $236.06 and a 200-day moving average price of $233.98.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the company earned $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Piper Sandler dropped their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Evercore ISI upped their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and an average target price of $252.83.

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.