Legacy Financial Strategies LLC Has $3.06 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Legacy Financial Strategies LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,005 shares of the home improvement retailer’s stock after purchasing an additional 107 shares during the quarter. Lowe’s Companies comprises about 0.8% of Legacy Financial Strategies LLC’s portfolio, making the stock its 23rd biggest position. Legacy Financial Strategies LLC’s holdings in Lowe’s Companies were worth $3,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Private Management Group Inc. increased its position in Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after buying an additional 46 shares in the last quarter. First Command Advisory Services Inc. increased its position in Lowe’s Companies by 1.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after buying an additional 48 shares in the last quarter. Jag Capital Management LLC increased its holdings in Lowe’s Companies by 0.3% during the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock worth $3,510,000 after purchasing an additional 48 shares in the last quarter. Hamilton Capital LLC increased its holdings in Lowe’s Companies by 2.1% during the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after purchasing an additional 49 shares in the last quarter. Finally, Abundance Wealth Counselors increased its holdings in Lowe’s Companies by 0.8% during the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after purchasing an additional 50 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW traded up $1.06 during trading on Friday, reaching $228.59. The stock had a trading volume of 3,296,393 shares, compared to its average volume of 2,447,016. The business has a 50-day moving average of $226.22 and a 200-day moving average of $227.64. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a market cap of $130.26 billion, a PE ratio of 18.28, a PEG ratio of 1.74 and a beta of 1.08.

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. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period last year, the firm earned $3.67 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LOW shares. Truist Financial reduced their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Citigroup reduced their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $251.33.

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.