Castle Wealth Management LLC Acquires 90 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Castle Wealth Management LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,827 shares of the home improvement retailer’s stock after acquiring an additional 90 shares during the quarter. Castle Wealth Management LLC’s holdings in Lowe’s Companies were worth $852,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its position in shares of Lowe’s Companies by 33.7% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,345 shares of the home improvement retailer’s stock worth $695,000 after buying an additional 843 shares in the last quarter. Harbour Trust & Investment Management Co bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $5,890,000. Meridian Wealth Management LLC lifted its position in shares of Lowe’s Companies by 100.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer’s stock worth $6,492,000 after buying an additional 15,612 shares in the last quarter. Biondo Investment Advisors LLC lifted its position in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after buying an additional 620 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of Lowe’s Companies by 18.6% during the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after buying an additional 584 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.6 %

NYSE:LOW traded up $1.47 during trading hours on Friday, hitting $230.26. 2,112,198 shares of the company’s stock traded hands, compared to its average volume of 2,546,613. The business’s fifty day simple moving average is $239.62 and its two-hundred day simple moving average is $218.63. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The firm has a market cap of $131.75 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.69 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company’s revenue was down 17.1% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.43%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Gordon Haskett reissued a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Piper Sandler raised their price target on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Citigroup raised their price target on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Zelman & Associates restated a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Wedbush raised their price target on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $252.52.

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.