Sound Income Strategies LLC Buys 260 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Sound Income Strategies LLC raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,544 shares of the home improvement retailer’s stock after buying an additional 260 shares during the period. Sound Income Strategies LLC’s holdings in Lowe’s Companies were worth $340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $24,091,000. Tobam raised its position in Lowe’s Companies by 27.4% in the fourth quarter. Tobam now owns 590 shares of the home improvement retailer’s stock worth $131,000 after acquiring an additional 127 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Lowe’s Companies by 130.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 29,400 shares of the home improvement retailer’s stock worth $6,543,000 after acquiring an additional 16,630 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Lowe’s Companies by 0.6% during the 4th quarter. Financial Counselors Inc. now owns 46,798 shares of the home improvement retailer’s stock valued at $10,415,000 after acquiring an additional 278 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Lowe’s Companies by 14.7% in the 4th quarter. Cerity Partners LLC now owns 134,949 shares of the home improvement retailer’s stock worth $30,033,000 after purchasing an additional 17,277 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $250.19.

Lowe’s Companies Trading Down 0.2 %

Shares of NYSE:LOW traded down $0.50 during trading on Friday, reaching $235.83. The company’s stock had a trading volume of 1,675,460 shares, compared to its average volume of 2,531,770. The firm’s 50 day simple moving average is $227.92 and its two-hundred day simple moving average is $230.87. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a market capitalization of $134.38 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping 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 company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. Lowe’s Companies’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

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.