Vest Financial LLC Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Vest Financial LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,294 shares of the home improvement retailer’s stock after acquiring an additional 15,609 shares during the period. Vest Financial LLC’s holdings in Lowe’s Companies were worth $41,952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Paragon Private Wealth Management LLC lifted its holdings in Lowe’s Companies by 13.5% during the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares in the last quarter. ING Groep NV lifted its stake in Lowe’s Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after buying an additional 106,144 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after buying an additional 13,680 shares during the last quarter. Bamco Inc. NY increased its stake in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $247.38 on Thursday. The firm has a market cap of $140.97 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.00 and a beta of 1.10. The firm’s 50 day moving average price is $238.51 and its 200-day moving average price is $234.49. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the firm earned $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LOW. Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note 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 for the company in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $252.83.

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.