Sunburst Financial Group LLC Acquires 218 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Sunburst Financial Group LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 23.9% in the 1st quarter, Holdings Channel reports. The fund owned 1,131 shares of the home improvement retailer’s stock after purchasing an additional 218 shares during the quarter. Sunburst Financial Group LLC’s holdings in Lowe’s Companies were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter worth about $25,000. Tidemark LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at approximately $28,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 3rd quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LOW. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Truist Financial dropped 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 research note on Wednesday, May 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Gordon Haskett reissued a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Finally, Citigroup cut their price target on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Stock Up 0.3 %

NYSE:LOW traded up $0.68 during trading hours on Friday, hitting $220.48. 528,756 shares of the stock were exchanged, compared to its average volume of 2,457,096. The company has a market capitalization of $125.64 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The company’s 50 day moving average is $225.69 and its two-hundred day moving average is $228.22.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $3.67 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 35.34%.

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.