Hardin Capital Partners LLC Buys Shares of 339,121 Lowe’s Companies, Inc. (NYSE:LOW)

Hardin Capital Partners LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 339,121 shares of the home improvement retailer’s stock, valued at approximately $74,763,000. Lowe’s Companies comprises 49.2% of Hardin Capital Partners LLC’s investment portfolio, making the stock its biggest holding. Hardin Capital Partners LLC owned about 0.06% of Lowe’s Companies at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Drive Wealth Management LLC raised its stake in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares in the last quarter. Crown Wealth Group LLC raised its holdings in Lowe’s Companies by 4.4% during the second 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 lifted its position in Lowe’s Companies by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares during the period. BLB&B Advisors LLC increased its position in shares of 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 during the period. Finally, First Bank & Trust raised its stake in shares of Lowe’s Companies by 3.1% in the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company cut their target price 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. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Finally, Truist Financial lifted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Trading Up 1.9 %

Lowe’s Companies stock opened at $252.05 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The firm’s fifty day simple moving average is $239.28 and its 200-day simple moving average is $234.61. The company has a market capitalization of $142.99 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 EPS. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.83%. Lowe’s Companies’s payout ratio is presently 36.95%.

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.