First Trust Direct Indexing L.P. Buys 1,641 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

First Trust Direct Indexing L.P. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,580 shares of the home improvement retailer’s stock after acquiring an additional 1,641 shares during the period. First Trust Direct Indexing L.P.’s holdings in Lowe’s Companies were worth $3,969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Cornerstone Wealth Management LLC boosted its position in shares of Lowe’s Companies by 2.0% in the 1st quarter. Cornerstone Wealth Management LLC now owns 21,069 shares of the home improvement retailer’s stock worth $5,367,000 after purchasing an additional 403 shares in the last quarter. Norden Group LLC raised its stake in Lowe’s Companies by 2,219.9% in the 1st quarter. Norden Group LLC now owns 95,115 shares of the home improvement retailer’s stock worth $24,228,000 after acquiring an additional 91,015 shares during the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in Lowe’s Companies during the 1st quarter worth about $257,000. United Capital Management of KS Inc. grew its stake in Lowe’s Companies by 1.9% during the 1st quarter. United Capital Management of KS Inc. now owns 27,938 shares of the home improvement retailer’s stock valued at $7,117,000 after purchasing an additional 528 shares during the last quarter. Finally, TCP Asset Management LLC increased its holdings in shares of Lowe’s Companies by 7.0% in the first quarter. TCP Asset Management LLC now owns 1,847 shares of the home improvement retailer’s stock valued at $470,000 after purchasing an additional 121 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price on the stock. Truist Financial dropped their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Zelman & Associates restated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average price target of $250.41.

Lowe’s Companies Trading Down 0.2 %

LOW traded down $0.40 on Thursday, hitting $213.30. 1,423,518 shares of the company were exchanged, compared to its average volume of 2,828,350. The firm has a 50-day moving average price of $224.22 and a two-hundred day moving average price of $228.21. The company has a market cap of $121.55 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share 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 for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the company earned $3.67 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

About Lowe’s Companies

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.