Provence Wealth Management Group Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Provence Wealth Management Group raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 26.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,466 shares of the home improvement retailer’s stock after acquiring an additional 306 shares during the period. Provence Wealth Management Group’s holdings in Lowe’s Companies were worth $326,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bailard Inc. boosted its holdings in Lowe’s Companies by 3.0% in the third quarter. Bailard Inc. now owns 7,138 shares of the home improvement retailer’s stock valued at $1,484,000 after acquiring an additional 211 shares during the last quarter. Strategic Investment Advisors MI purchased a new stake in shares of Lowe’s Companies during the third quarter worth about $225,000. Intellectus Partners LLC boosted its holdings in Lowe’s Companies by 112.1% in the third quarter. Intellectus Partners LLC now owns 2,055 shares of the home improvement retailer’s stock valued at $427,000 after purchasing an additional 1,086 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of Lowe’s Companies by 59.0% in the 3rd quarter. Sage Mountain Advisors LLC now owns 3,103 shares of the home improvement retailer’s stock valued at $645,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Sawyer & Company Inc increased its position in shares of Lowe’s Companies by 4.9% in the 3rd quarter. Sawyer & Company Inc now owns 3,942 shares of the home improvement retailer’s stock worth $819,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.1 %

NYSE LOW traded up $2.55 during trading on Friday, hitting $232.13. The company’s stock had a trading volume of 1,834,728 shares, compared to its average volume of 2,044,726. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The firm has a market cap of $132.82 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15. The firm has a 50 day moving average price of $240.07 and a 200 day moving average price of $220.75.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the prior year, the firm earned $2.28 EPS. The business’s revenue was down 17.1% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.90%. Lowe’s Companies’s payout ratio is currently 33.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LOW shares. Piper Sandler upped their price target on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus dropped their target price on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Citigroup upped their target price on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and an average price target of $252.52.

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.