Evolution Advisers Inc. Grows Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Evolution Advisers Inc. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 463 shares of the home improvement retailer’s stock after buying an additional 50 shares during the period. Evolution Advisers Inc.’s holdings in Lowe’s Companies were worth $102,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LOW. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at about $33,000. Finally, Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LOW shares. Gordon Haskett reduced their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Piper Sandler reduced their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. reduced their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, UBS Group lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Twelve 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.04.

Lowe’s Companies Trading Up 0.1 %

LOW stock traded up $0.25 during midday trading on Wednesday, hitting $248.82. The company’s stock had a trading volume of 1,372,032 shares, compared to its average volume of 2,527,495. The company has a market cap of $141.79 billion, a PE ratio of 19.99, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm’s 50-day moving average is $232.88 and its 200-day moving average is $233.11.

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

Lowe’s Companies Cuts Dividend

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