Brighton Jones LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,883 shares of the home improvement retailer’s stock after purchasing an additional 627 shares during the period. Brighton Jones LLC’s holdings in Lowe’s Companies were worth $3,857,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of LOW. RE Advisers Corp bought a new stake in Lowe’s Companies during the 2nd quarter worth approximately $29,000. Burleson & Company LLC bought a new stake in Lowe’s Companies during the 1st quarter worth approximately $33,000. USA Financial Portformulas Corp increased its holdings in Lowe’s Companies by 1,505.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 289 shares of the home improvement retailer’s stock worth $56,000 after purchasing an additional 271 shares in the last quarter. Twin Lakes Capital Management LLC bought a new stake in Lowe’s Companies during the 1st quarter worth approximately $57,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in Lowe’s Companies during the 1st quarter worth approximately $61,000. 72.80% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on LOW shares. DA Davidson restated a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, August 19th. Zacks Investment Research downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 target price on the stock. in a research note on Wednesday, July 28th. Truist Securities boosted their target price on Lowe’s Companies from $185.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, May 20th. Wedbush downgraded Lowe’s Companies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $225.00 to $210.00 in a research note on Monday, July 26th. Finally, TheStreet downgraded Lowe’s Companies from a “b” rating to a “c+” rating in a research note on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $216.26.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. The firm had revenue of $27.57 billion for the quarter, compared to the consensus estimate of $26.76 billion. Lowe’s Companies had a return on equity of 541.39% and a net margin of 7.41%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.75 earnings per share. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 3rd. Stockholders of record on Wednesday, October 20th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, October 19th. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. Lowe’s Companies’s payout ratio is currently 36.12%.
Lowe’s Companies Company Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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