Park National Corp OH Acquires 375 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Park National Corp OH lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,255 shares of the home improvement retailer’s stock after acquiring an additional 375 shares during the quarter. Park National Corp OH’s holdings in Lowe’s Companies were worth $1,848,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LOW. Envestnet Portfolio Solutions Inc. bought a new stake in Lowe’s Companies during the 3rd quarter valued at $10,371,000. WINTON GROUP Ltd bought a new stake in Lowe’s Companies during the 3rd quarter valued at $344,000. Sugarloaf Wealth Management LLC raised its holdings in Lowe’s Companies by 54.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 1,238 shares of the home improvement retailer’s stock valued at $257,000 after buying an additional 437 shares during the last quarter. Cambridge Financial Group Inc. bought a new stake in Lowe’s Companies during the 3rd quarter valued at $6,305,000. Finally, Peachtree Investment Partners LLC raised its holdings in Lowe’s Companies by 22.9% during the 3rd quarter. Peachtree Investment Partners LLC now owns 5,264 shares of the home improvement retailer’s stock valued at $1,094,000 after buying an additional 982 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Up 0.4 %

Shares of NYSE:LOW opened at $227.68 on Wednesday. The firm’s 50 day moving average price is $226.56 and its 200-day moving average price is $227.64. 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 capitalization of $129.74 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. Analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 35.34%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday. Zelman & Associates reissued a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Citigroup reduced their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Truist Financial reduced their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $251.33.

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.