Pathway Financial Advisers LLC Buys New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Pathway Financial Advisers LLC bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, Holdings Channel reports. The institutional investor bought 1,286 shares of the home improvement retailer’s stock, valued at approximately $328,000.

Other hedge funds also recently added to or reduced their stakes in the company. Paragon Private Wealth Management LLC increased its position in Lowe’s Companies by 13.5% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after buying an additional 581 shares in the last quarter. ING Groep NV increased its holdings in shares of Lowe’s Companies by 18,786.5% in the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after purchasing an additional 106,144 shares during the period. Clifford Swan Investment Counsel LLC increased its holdings in shares of Lowe’s Companies by 0.3% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock valued at $47,947,000 after purchasing an additional 541 shares during the period. Brevan Howard Capital Management LP increased its holdings in shares of Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 0.4 %

Shares of NYSE LOW traded down $0.94 during midday trading on Friday, hitting $240.42. The stock had a trading volume of 2,258,921 shares, compared to its average volume of 2,483,161. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market capitalization of $137.00 billion, a PE ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. The stock has a 50 day simple moving average of $225.93 and a 200-day simple moving average of $230.17.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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. The firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 earnings per share. As a group, analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm 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 dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. Citigroup cut their price objective on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Truist Financial cut their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Stifel Nicolaus increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.04.

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.