Brendel Financial Advisors LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,286 shares of the home improvement retailer’s stock, valued at approximately $2,741,000. Lowe’s Companies accounts for about 2.4% of Brendel Financial Advisors LLC’s holdings, making the stock its 14th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Lowe’s Companies by 194.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 13,527 shares of the home improvement retailer’s stock worth $1,622,000 after acquiring an additional 8,932 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in Lowe’s Companies by 14.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,925 shares of the home improvement retailer’s stock worth $1,342,000 after purchasing an additional 1,220 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Lowe’s Companies by 13.8% during the 1st quarter. Fulton Bank N.A. now owns 15,456 shares of the home improvement retailer’s stock valued at $1,330,000 after purchasing an additional 1,874 shares during the period. Wedbush Securities Inc. grew its stake in shares of Lowe’s Companies by 9.2% during the 2nd quarter. Wedbush Securities Inc. now owns 10,594 shares of the home improvement retailer’s stock valued at $1,431,000 after purchasing an additional 889 shares during the period. Finally, State Street Corp increased its position in shares of Lowe’s Companies by 2.7% during the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after purchasing an additional 922,369 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
Lowe’s Companies stock traded down $0.29 during midday trading on Friday, reaching $148.91. 3,928,596 shares of the stock traded hands, compared to its average volume of 3,264,570. The stock’s fifty day moving average is $137.36 and its 200-day moving average is $116.11. Lowe’s Companies, Inc. has a 12 month low of $60.00 and a 12 month high of $149.92. The stock has a market cap of $112.65 billion, a P/E ratio of 25.15, a PEG ratio of 1.42 and a beta of 1.44. The company has a quick ratio of 0.42, a current ratio of 1.20 and a debt-to-equity ratio of 14.05.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, July 21st. Lowe’s Companies’s payout ratio is 38.46%.
Several analysts recently issued reports on the stock. Guggenheim restated a “buy” rating and set a $135.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 20th. Stifel Nicolaus upped their price objective on Lowe’s Companies from $149.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Zacks Investment Research cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $108.00 target price on the stock. in a report on Tuesday, April 28th. Loop Capital boosted their price target on Lowe’s Companies from $105.00 to $140.00 in a report on Thursday, May 21st. Finally, UBS Group raised their price objective on Lowe’s Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $140.86.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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