Alpha Omega Wealth Management LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Alpha Omega Wealth Management LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,530 shares of the home improvement retailer’s stock after selling 209 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth about $28,000. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies during the first quarter worth about $35,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $33,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

NYSE LOW traded up $0.49 on Monday, hitting $250.56. 2,790,548 shares of the stock were exchanged, compared to its average volume of 2,539,145. The company’s 50-day moving average price is $232.46 and its two-hundred day moving average price is $232.93. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company has a market capitalization of $142.78 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the company posted $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. Equities analysts predict 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 was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent analyst reports. Bank of America cut their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Wells Fargo & Company cut their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Citigroup cut their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Piper Sandler cut 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. Finally, Gordon Haskett cut 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. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.04.

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.