Innova Wealth Partners Invests $200,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Innova Wealth Partners acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 900 shares of the home improvement retailer’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. ING Groep NV acquired a new stake in Lowe’s Companies during the third quarter valued at $117,000. Congress Wealth Management LLC DE grew its position in Lowe’s Companies by 1.0% during the third quarter. Congress Wealth Management LLC DE now owns 13,479 shares of the home improvement retailer’s stock valued at $2,802,000 after buying an additional 132 shares during the period. Private Management Group Inc. acquired a new stake in Lowe’s Companies during the third quarter valued at $241,000. China Universal Asset Management Co. Ltd. grew its position in Lowe’s Companies by 211.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,382 shares of the home improvement retailer’s stock valued at $1,326,000 after buying an additional 4,335 shares during the period. Finally, Leisure Capital Management grew its position in Lowe’s Companies by 0.6% during the third quarter. Leisure Capital Management now owns 10,373 shares of the home improvement retailer’s stock valued at $2,156,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 2.2 %

Shares of LOW traded up $5.01 during trading on Wednesday, reaching $236.59. 968,365 shares of the company traded hands, compared to its average volume of 2,406,924. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock has a market cap of $135.37 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The stock has a 50-day simple moving average of $239.21 and a 200-day simple moving average of $223.37.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results 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. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period last year, the business earned $2.28 earnings per share. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.43%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOW. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Monday, March 4th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Finally, Evercore ISI increased their price objective on shares of Lowe’s Companies from $245.00 to $250.00 and gave the company an “in-line” rating in a report on Tuesday. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $252.67.

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.