Proficio Capital Partners LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Proficio Capital Partners LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,309 shares of the home improvement retailer’s stock after purchasing an additional 237 shares during the quarter. Proficio Capital Partners LLC’s holdings in Lowe’s Companies were worth $843,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies during the third quarter valued at about $26,000. Tidemark LLC bought a new stake in Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $28,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at about $31,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI cut their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Stifel Nicolaus raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Truist Financial lowered their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $250.41.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded down $0.82 during trading on Tuesday, hitting $216.33. The company’s stock had a trading volume of 2,571,674 shares, compared to its average volume of 2,541,343. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company has a fifty day simple moving average of $223.06 and a two-hundred day simple moving average of $228.01. The company has a market capitalization of $123.27 billion, a PE ratio of 17.38, a P/E/G ratio of 1.64 and a beta of 1.08.

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

Lowe’s Companies Cuts Dividend

The business also recently declared 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 of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. Lowe’s Companies’s payout ratio is presently 35.34%.

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.