Oak Harvest Investment Services Purchases New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Oak Harvest Investment Services acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 833 shares of the home improvement retailer’s stock, valued at approximately $212,000.

A number of other hedge funds also recently bought and sold shares of LOW. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the third quarter worth $26,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies during the fourth quarter valued at $28,000. Finally, Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth about $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $213.30 on Friday. The stock’s 50-day moving average is $223.89 and its 200-day moving average is $228.11. The company has a market cap of $121.55 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.63 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 announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion during 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 firm’s revenue for the quarter 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. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors 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 yield of 0.28%. 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

A number of equities analysts have recently weighed in on LOW shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI cut their price objective on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $250.41.

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.