Columbia Asset Management Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Columbia Asset Management boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,673 shares of the home improvement retailer’s stock after purchasing an additional 135 shares during the period. Columbia Asset Management’s holdings in Lowe’s Companies were worth $369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LOW. Tidemark LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $31,000. Stephens Consulting LLC increased its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $244.13 on Friday. The business’s fifty day moving average price is $236.06 and its 200-day moving average price is $233.98. The stock has a market capitalization of $139.11 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.94 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.88%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of research firms have weighed in on LOW. Wells Fargo & Company reduced their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Bank of America reduced their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Piper Sandler reduced their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. UBS Group upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $252.83.

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.