Townsend & Associates Inc Makes New $216,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Townsend & Associates Inc purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,028 shares of the home improvement retailer’s stock, valued at approximately $216,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Clifford Swan Investment Counsel LLC grew its stake in shares of Lowe’s Companies by 0.3% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after purchasing an additional 541 shares during the last quarter. Harbour Trust & Investment Management Co bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $5,890,000. Syon Capital LLC boosted its holdings in Lowe’s Companies by 23.3% in the fourth quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock valued at $1,587,000 after acquiring an additional 1,345 shares during the last quarter. Biondo Investment Advisors LLC increased its position in Lowe’s Companies by 1.0% during the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after purchasing an additional 620 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in shares of Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after purchasing an additional 584 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LOW. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Citigroup lowered their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday. Truist Financial boosted their price target on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. UBS Group lifted their price objective on shares of Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $252.67.

Lowe’s Companies Price Performance

Shares of LOW traded up $4.01 during trading hours on Thursday, hitting $236.08. The company’s stock had a trading volume of 740,398 shares, compared to its average volume of 2,425,396. The business has a 50 day simple moving average of $240.00 and a two-hundred day simple moving average of $221.68. 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 cap of $135.08 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.72 and a beta of 1.15.

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

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.86%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Lowe’s Companies 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.