Whalerock Point Partners LLC Acquires 150 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Whalerock Point Partners LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,680 shares of the home improvement retailer’s stock after purchasing an additional 150 shares during the period. Whalerock Point Partners LLC’s holdings in Lowe’s Companies were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. Kingdon Capital Management L.L.C. acquired a new position in Lowe’s Companies during the 1st quarter worth approximately $15,284,000. BTG Pactual Global Asset Management Ltd acquired a new position in Lowe’s Companies during the 1st quarter worth approximately $815,000. Bayesian Capital Management LP acquired a new position in Lowe’s Companies during the 1st quarter worth approximately $8,995,000. Waverly Advisors LLC raised its stake in Lowe’s Companies by 52.4% during the 1st quarter. Waverly Advisors LLC now owns 15,988 shares of the home improvement retailer’s stock worth $4,073,000 after buying an additional 5,499 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in Lowe’s Companies by 15.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 46,509 shares of the home improvement retailer’s stock worth $11,847,000 after buying an additional 6,212 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW traded up $1.60 on Tuesday, hitting $241.40. 1,769,249 shares of the stock traded hands, compared to its average volume of 2,534,686. The business’s fifty day moving average is $224.46 and its two-hundred day moving average is $229.83. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm has a market capitalization of $137.56 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.83 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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 negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the company earned $3.67 earnings per share. Lowe’s Companies’s revenue was down 4.4% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOW. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. 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. Truist Financial lowered their price objective 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, May 21st. 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 stock presently has an average rating of “Hold” and an average 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.