Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Western Wealth Management LLC

Western Wealth Management LLC boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,814 shares of the home improvement retailer’s stock after acquiring an additional 53 shares during the period. Western Wealth Management LLC’s holdings in Lowe’s Companies were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the fourth quarter worth about $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the first quarter worth approximately $35,000. Finally, Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded up $0.39 during trading on Monday, hitting $241.54. The company’s stock had a trading volume of 337,245 shares, compared to its average volume of 2,515,761. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The business has a 50 day moving average price of $229.89 and a two-hundred day moving average price of $231.88. The company has a market capitalization of $137.64 billion, a PE ratio of 19.52, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. Lowe’s Companies’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.67 EPS. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were paid a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LOW. Stifel Nicolaus boosted 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. Evercore ISI dropped their price target on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. DA Davidson reduced their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Citigroup cut their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.