SRS Capital Advisors Inc. Acquires 204 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

SRS Capital Advisors Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,367 shares of the home improvement retailer’s stock after buying an additional 204 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Lowe’s Companies were worth $742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Norges Bank bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $1,638,746,000. Schroder Investment Management Group raised its position in shares of Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after acquiring an additional 52,859 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Lowe’s Companies by 14.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock valued at $337,463,000 after purchasing an additional 194,070 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.1 %

Shares of NYSE LOW opened at $243.81 on Friday. The company has a market capitalization of $138.93 billion, a PE ratio of 19.58, a PEG ratio of 2.04 and a beta of 1.10. The stock’s 50 day moving average price is $236.53 and its 200-day moving average price is $234.15. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

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

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.89%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Morgan Stanley increased their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler decreased their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Wells Fargo & Company cut their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $252.83.

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.