Mayflower Financial Advisors LLC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mayflower Financial Advisors LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,051 shares of the home improvement retailer’s stock after selling 61 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Lowe’s Companies were worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LOW. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $28,000. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Bank of America decreased their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Truist Financial increased their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Finally, Piper Sandler dropped their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.04.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $2.90 during midday trading on Thursday, hitting $242.55. 71,153 shares of the company were exchanged, compared to its average volume of 2,505,207. The company’s fifty day moving average price is $235.58 and its 200-day moving average price is $233.90. The company has a market cap of $138.21 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

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, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the firm earned $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, analysts expect that Lowe’s Companies, Inc. will post 11.94 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend 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.