Lowe’s Companies, Inc. (NYSE:LOW) Position Raised by Drive Wealth Management LLC

Drive Wealth Management LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,894 shares of the home improvement retailer’s stock after acquiring an additional 41 shares during the quarter. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $418,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Tidemark LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $31,000. Stephens Consulting LLC lifted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at about $33,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Royal Bank of Canada dropped their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Truist Financial increased their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler cut their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $248.50 on Monday. The firm has a 50 day simple moving average of $234.08 and a 200 day simple moving average of $233.55. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company has a market cap of $141.61 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.04 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 (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.56 EPS. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.85%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

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.