HighPoint Advisor Group LLC Invests $3.05 Million in Lowe’s Companies, Inc. (NYSE:LOW)

HighPoint Advisor Group LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,691 shares of the home improvement retailer’s stock, valued at approximately $3,047,000.

Several other institutional investors also recently modified their holdings of the business. Private Management Group Inc. grew its position in shares of Lowe’s Companies by 4.0% during the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after buying an additional 46 shares during the period. First Command Advisory Services Inc. grew its holdings in Lowe’s Companies by 1.9% during the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the period. Jag Capital Management LLC grew its holdings in Lowe’s Companies by 0.3% during the fourth quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock valued at $3,510,000 after purchasing an additional 48 shares during the period. Hamilton Capital LLC grew its holdings in Lowe’s Companies by 2.1% during the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after purchasing an additional 49 shares during the period. Finally, Abundance Wealth Counselors grew its holdings in Lowe’s Companies by 0.8% during the fourth quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock valued at $1,485,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Evercore ISI reduced their price target on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a report on Wednesday, May 22nd. DA Davidson reduced their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $251.33.

Read Our Latest Report on Lowe’s Companies

Lowe’s Companies Price Performance

NYSE LOW traded up $1.36 on Tuesday, hitting $228.13. 117,052 shares of the stock were exchanged, compared to its average volume of 2,423,630. 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 capitalization of $130.00 billion, a PE ratio of 18.22, a P/E/G ratio of 1.71 and a beta of 1.08. The business’s fifty day moving average is $226.89 and its 200 day moving average is $227.47.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.26%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Lowe’s Companies Profile

(Free Report)

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, d├ęcor, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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