Drive Wealth Management LLC Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Drive Wealth Management LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,894 shares of the home improvement retailer’s stock after purchasing an additional 41 shares during the period. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Paragon Private Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 13.5% in the fourth 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 period. ING Groep NV raised its position 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 worth $23,748,000 after buying an additional 106,144 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its position in Lowe’s Companies by 0.3% during 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 buying an additional 541 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in shares of Lowe’s Companies by 824.6% in 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 during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $248.50 on Monday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company has a market capitalization of $141.61 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.04 and a beta of 1.07. The stock has a fifty day moving average of $234.08 and a two-hundred day moving average of $233.55.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.56 EPS. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.94 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.85%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. UBS Group increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley raised their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI upped their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Finally, Bank of America decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.04.

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.