Concord Wealth Partners Has $1.13 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Concord Wealth Partners boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 48.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,055 shares of the home improvement retailer’s stock after buying an additional 1,639 shares during the quarter. Concord Wealth Partners’ holdings in Lowe’s Companies were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board raised its position in shares of Lowe’s Companies by 187,225.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after acquiring an additional 2,110,032 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $430,090,000. Schroder Investment Management Group raised its position in shares of Lowe’s Companies by 189.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after acquiring an additional 1,831,727 shares in the last quarter. Aristotle Capital Management LLC raised its position in shares of Lowe’s Companies by 143.8% in the 3rd quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock worth $283,019,000 after acquiring an additional 803,216 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Lowe’s Companies in the 3rd quarter worth about $144,530,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW traded up $1.97 during trading on Wednesday, reaching $229.96. The stock had a trading volume of 979,609 shares, compared to its average volume of 2,475,778. The stock has a market cap of $131.58 billion, a PE ratio of 17.32, a PEG ratio of 1.71 and a beta of 1.13. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The business has a 50-day moving average of $240.11 and a 200-day moving average of $220.41.

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

Lowe’s Companies Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on LOW shares. Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Stifel Nicolaus cut their target price on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Mizuho assumed coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price on the stock. Finally, DA Davidson restated a “neutral” rating and issued a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Company 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.