Diversified LLC Acquires 445 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Diversified LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the home improvement retailer’s stock after purchasing an additional 445 shares during the quarter. Diversified LLC’s holdings in Lowe’s Companies were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Powers Advisory Group LLC raised its holdings in Lowe’s Companies by 10.4% in the 2nd quarter. Powers Advisory Group LLC now owns 1,601 shares of the home improvement retailer’s stock worth $353,000 after acquiring an additional 151 shares during the period. Cornerstone Wealth Group LLC raised its holdings in Lowe’s Companies by 6.4% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 25,657 shares of the home improvement retailer’s stock worth $5,656,000 after acquiring an additional 1,552 shares during the period. JB Capital LLC raised its holdings in Lowe’s Companies by 2.7% in the 2nd quarter. JB Capital LLC now owns 2,627 shares of the home improvement retailer’s stock worth $579,000 after acquiring an additional 70 shares during the period. DT Investment Partners LLC raised its holdings in Lowe’s Companies by 72.4% in the 2nd quarter. DT Investment Partners LLC now owns 3,278 shares of the home improvement retailer’s stock worth $723,000 after acquiring an additional 1,377 shares during the period. Finally, &PARTNERS raised its holdings in Lowe’s Companies by 784.6% in the 2nd quarter. &PARTNERS now owns 71,688 shares of the home improvement retailer’s stock worth $15,798,000 after acquiring an additional 63,584 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on LOW shares. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Citigroup dropped their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $9.76 during trading on Friday, reaching $250.07. The company had a trading volume of 2,685,374 shares, compared to its average volume of 2,537,597. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock has a market cap of $142.50 billion, a PE ratio of 20.09, a PEG ratio of 1.85 and a beta of 1.07. The business’s 50 day moving average price is $231.99 and its 200-day moving average price is $232.54.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.56 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s payout ratio is 36.95%.

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.