Perennial Investment Advisors LLC Purchases 64 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Perennial Investment Advisors LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,228 shares of the home improvement retailer’s stock after acquiring an additional 64 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Lowe’s Companies were worth $491,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tidemark LLC bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth $31,000. Stephens Consulting LLC grew its stake in shares of Lowe’s Companies by 93.3% during 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, Keener Financial Planning LLC bought a new stake in Lowe’s Companies in the first quarter valued at about $35,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $256.76 on Wednesday. The business has a 50-day moving average of $241.71 and a 200-day moving average of $234.94. The stock has a market capitalization of $146.31 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the company earned $4.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LOW shares. Royal Bank of Canada decreased their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Finally, Wells Fargo & Company dropped their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and an average price target of $252.83.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.