Meridian Wealth Advisors LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meridian Wealth Advisors LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,476 shares of the home improvement retailer’s stock after buying an additional 256 shares during the period. Meridian Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $25,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter worth $26,000. VisionPoint Advisory Group LLC increased its position in shares of Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in Lowe’s Companies in the 4th quarter valued at about $33,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Lowe’s Companies in the third quarter valued at about $40,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.3 %

NYSE LOW opened at $232.81 on Thursday. The business’s 50-day moving average price is $240.00 and its 200 day moving average price is $221.68. The firm has a market cap of $133.21 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.72 and a beta of 1.15. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.89%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wedbush boosted their price objective on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Stifel Nicolaus lowered their target price on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, February 16th. Royal Bank of Canada boosted their price target on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Finally, Gordon Haskett reissued a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $252.67.

Lowe’s Companies 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.