Waterfront Wealth Inc. Raises Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Waterfront Wealth Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,604 shares of the home improvement retailer’s stock after purchasing an additional 93 shares during the period. Waterfront Wealth Inc.’s holdings in Lowe’s Companies were worth $802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hamilton Capital LLC lifted its stake in shares of Lowe’s Companies by 2.1% in the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after purchasing an additional 49 shares in the last quarter. Abundance Wealth Counselors boosted its position in Lowe’s Companies by 0.8% during the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after purchasing an additional 50 shares during the period. YHB Investment Advisors Inc. raised its position in Lowe’s Companies by 0.6% in the fourth quarter. YHB Investment Advisors Inc. now owns 9,013 shares of the home improvement retailer’s stock valued at $2,006,000 after purchasing an additional 50 shares during the period. Mather Group LLC. boosted its position in shares of Lowe’s Companies by 2.8% in the first quarter. Mather Group LLC. now owns 1,939 shares of the home improvement retailer’s stock worth $392,000 after buying an additional 52 shares during the period. Finally, Thomasville National Bank grew its stake in shares of Lowe’s Companies by 0.4% in the fourth quarter. Thomasville National Bank now owns 11,803 shares of the home improvement retailer’s stock valued at $2,627,000 after buying an additional 52 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on LOW. Mizuho began coverage on Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Gordon Haskett restated a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Truist Financial lifted their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lowered their target price on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Finally, Piper Sandler lifted their target price on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded up $1.24 during trading hours on Thursday, hitting $230.10. 186,175 shares of the company’s stock were exchanged, compared to its average volume of 2,527,150. The company’s 50-day moving average price is $239.29 and its 200-day moving average price is $218.38. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The stock has a market capitalization of $131.66 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.69 and a beta of 1.13.

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

Lowe’s Companies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. Lowe’s Companies’s payout ratio is 33.43%.

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.