Quest Partners LLC Purchases 6,537 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Quest Partners LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 130,740.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,542 shares of the home improvement retailer’s stock after acquiring an additional 6,537 shares during the period. Quest Partners LLC’s holdings in Lowe’s Companies were worth $1,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ellis Investment Partners LLC grew its stake in Lowe’s Companies by 17.6% during the second quarter. Ellis Investment Partners LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $244,000 after acquiring an additional 166 shares in the last quarter. MRA Advisory Group bought a new stake in shares of Lowe’s Companies in the second quarter worth about $553,000. Caprock Group LLC lifted its position in shares of Lowe’s Companies by 126.7% in the second quarter. Caprock Group LLC now owns 15,044 shares of the home improvement retailer’s stock worth $3,317,000 after buying an additional 8,408 shares in the last quarter. Lynch & Associates IN boosted its stake in Lowe’s Companies by 7.0% during the second quarter. Lynch & Associates IN now owns 24,954 shares of the home improvement retailer’s stock valued at $5,501,000 after buying an additional 1,632 shares during the last quarter. Finally, Kerusso Capital Management LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at approximately $2,877,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Finally, Truist Financial raised their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Price Performance

NYSE LOW opened at $244.60 on Tuesday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market capitalization of $138.76 billion, a PE ratio of 19.65, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a fifty day moving average of $237.15 and a 200 day moving average of $234.30.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 earnings per share. Research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.88%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.