Strong Tower Advisory Services Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Strong Tower Advisory Services increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,911 shares of the home improvement retailer’s stock after acquiring an additional 208 shares during the quarter. Lowe’s Companies makes up about 0.7% of Strong Tower Advisory Services’ investment portfolio, making the stock its 29th largest position. Strong Tower Advisory Services’ holdings in Lowe’s Companies were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Private Management Group Inc. increased its holdings in Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after purchasing an additional 46 shares during the last quarter. First Command Advisory Services Inc. raised its holdings in shares of Lowe’s Companies by 1.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after buying an additional 48 shares during the period. Jag Capital Management LLC lifted its stake in Lowe’s Companies by 0.3% during the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock worth $3,510,000 after acquiring an additional 48 shares in the last quarter. Hamilton Capital LLC boosted its holdings in Lowe’s Companies by 2.1% during the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after acquiring an additional 49 shares during the period. Finally, Abundance Wealth Counselors boosted its holdings 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 valued at $1,485,000 after acquiring an additional 50 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LOW shares. Gordon Haskett reissued a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Stifel Nicolaus upped their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Truist Financial lowered their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Citigroup reduced their price target on 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, DA Davidson lowered their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $5.66 during midday trading on Tuesday, hitting $222.73. The company had a trading volume of 246,819 shares, compared to its average volume of 2,439,965. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company’s 50 day simple moving average is $226.11 and its 200 day simple moving average is $228.22. The stock has a market cap of $126.92 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.75 and a beta of 1.08.

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

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. Lowe’s Companies’s payout ratio is currently 35.34%.

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.