Gradient Investments LLC Purchases 9,920 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Gradient Investments LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 13.1% during the second quarter, HoldingsChannel.com reports. The fund owned 85,363 shares of the home improvement retailer’s stock after buying an additional 9,920 shares during the quarter. Gradient Investments LLC’s holdings in Lowe’s Companies were worth $18,819,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Lowe’s Companies during the fourth quarter worth about $1,638,746,000. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Canoe Financial LP bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $206,912,000. M&G Plc acquired a new stake in Lowe’s Companies in the first quarter valued at approximately $217,995,000. Finally, Pathstone Holdings LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $126,615,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $1.09 on Friday, reaching $241.15. 1,725,785 shares of the company were exchanged, compared to its average volume of 2,529,547. The company has a 50-day moving average of $229.89 and a 200-day moving average of $231.63. The company has a market cap of $137.42 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. DA Davidson dropped their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $250.19.

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.