Lowe’s Companies, Inc. (NYSE:LOW) Stake Boosted by Lynch & Associates IN

Lynch & Associates IN increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,954 shares of the home improvement retailer’s stock after purchasing an additional 1,632 shares during the period. Lowe’s Companies accounts for 1.2% of Lynch & Associates IN’s portfolio, making the stock its 27th largest position. Lynch & Associates IN’s holdings in Lowe’s Companies were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Drive Wealth Management LLC lifted its stake 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 valued at $418,000 after buying an additional 41 shares during the last quarter. Crown Wealth Group LLC increased 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 acquiring an additional 44 shares during the period. Pure Financial Advisors LLC lifted 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 last quarter. BLB&B Advisors LLC boosted 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 during the period. Finally, First Bank & Trust grew its position in 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 purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Evercore ISI raised their price target 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. UBS Group lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Morgan Stanley upped their price target 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. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Trading Down 0.1 %

Shares of LOW opened at $243.81 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The stock has a market capitalization of $138.93 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.04 and a beta of 1.10. The business’s 50-day moving average price is $236.53 and its 200 day moving average price is $234.15.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, research 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. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

About Lowe’s Companies

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.