Benjamin Edwards Inc. Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Benjamin Edwards Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,895 shares of the home improvement retailer’s stock after selling 100 shares during the quarter. Benjamin Edwards Inc.’s holdings in Lowe’s Companies were worth $644,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies during the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC grew its holdings in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Lowe’s Companies during the third quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Truist Financial boosted their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Barclays boosted their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. Finally, UBS Group boosted their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $252.52.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded up $2.58 during mid-day trading on Friday, reaching $232.16. 1,834,659 shares of the company traded hands, compared to its average volume of 2,468,437. The firm’s 50 day moving average price is $240.08 and its 200 day moving average price is $220.52. The firm has a market capitalization of $132.84 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.68 and a beta of 1.15. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.28 EPS. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Lowe’s Companies Company Profile

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.