Founders Financial Alliance LLC Has $2.57 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Founders Financial Alliance LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,654 shares of the home improvement retailer’s stock after selling 102 shares during the quarter. Lowe’s Companies accounts for about 0.8% of Founders Financial Alliance LLC’s portfolio, making the stock its 27th largest position. Founders Financial Alliance LLC’s holdings in Lowe’s Companies were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Aldebaran Financial Inc. grew its holdings in shares of Lowe’s Companies by 2.7% during the second quarter. Aldebaran Financial Inc. now owns 3,865 shares of the home improvement retailer’s stock worth $852,000 after buying an additional 100 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in shares of Lowe’s Companies during the second quarter worth about $595,000. Ted Buchan & Co bought a new position in shares of Lowe’s Companies during the second quarter worth about $256,000. Advisory Alpha LLC grew its holdings in shares of Lowe’s Companies by 8.5% during the second quarter. Advisory Alpha LLC now owns 3,906 shares of the home improvement retailer’s stock worth $861,000 after buying an additional 306 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Lowe’s Companies by 3.5% during the second quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LOW shares. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.00.

Lowe’s Companies Price Performance

LOW opened at $270.85 on Tuesday. The business has a fifty day simple moving average of $246.83 and a 200 day simple moving average of $236.29. The company has a market capitalization of $154.34 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $271.27.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The business 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%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. Lowe’s Companies’s payout ratio is 36.95%.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.