Park Place Capital Corp Purchases 700 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Park Place Capital Corp increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 106.7% during the first quarter, Holdings Channel reports. The firm owned 1,356 shares of the home improvement retailer’s stock after acquiring an additional 700 shares during the quarter. Park Place Capital Corp’s holdings in Lowe’s Companies were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LOW. Paragon Private Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 13.5% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares during the last quarter. ING Groep NV grew its holdings in Lowe’s Companies by 18,786.5% during the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after buying an additional 106,144 shares in the last quarter. Clifford Swan Investment Counsel LLC increased its stake in Lowe’s Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after acquiring an additional 541 shares during the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after acquiring an additional 13,680 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Lowe’s Companies by 1.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock valued at $10,031,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LOW. Oppenheimer restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. Evercore ISI reduced 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 lowered their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Gordon Haskett restated a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $251.33.

Lowe’s Companies Stock Down 3.1 %

Shares of NYSE:LOW opened at $213.52 on Tuesday. The business’s 50 day moving average is $225.32 and its 200 day moving average is $228.49. The stock has a market cap of $121.67 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

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

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. Lowe’s Companies’s payout ratio is presently 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.