Cetera Investment Advisers Has $63.10 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cetera Investment Advisers raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 180.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,721 shares of the home improvement retailer’s stock after buying an additional 159,502 shares during the period. Cetera Investment Advisers’ holdings in Lowe’s Companies were worth $63,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LOW. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.4 %

Shares of Lowe’s Companies stock traded down $0.94 during trading on Friday, hitting $240.42. 2,258,921 shares of the stock were exchanged, compared to its average volume of 2,483,161. The stock has a market capitalization of $137.00 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company has a fifty day moving average price of $225.93 and a 200-day moving average price of $230.17. 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 announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates 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 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 business earned $3.67 EPS. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI lowered their price target 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. DA Davidson lowered their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Citigroup lowered their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Truist Financial lowered their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $250.04.

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.