Alpha Omega Wealth Management LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Alpha Omega Wealth Management LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,739 shares of the home improvement retailer’s stock after selling 88 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,481,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at $25,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $26,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOW. Evercore ISI dropped their target price on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a report on Wednesday, May 22nd. Truist Financial dropped 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 report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $220.46 on Friday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a fifty day moving average price of $225.32 and a 200-day moving average price of $228.40. The company has a market cap of $125.63 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08.

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

Lowe’s Companies Cuts Dividend

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

Lowe’s Companies Company 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.