Lowe’s Companies, Inc. (NYSE:LOW) Stake Boosted by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 268.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,105 shares of the home improvement retailer’s stock after acquiring an additional 3,720 shares during the period. Connecticut Wealth Management LLC’s holdings in Lowe’s Companies were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at $26,000. VisionPoint Advisory Group LLC lifted its stake in shares of Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Lowe’s Companies in the fourth quarter worth $47,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.1 %

LOW traded up $2.55 during midday trading on Friday, reaching $232.13. 1,834,728 shares of the company’s stock were exchanged, compared to its average volume of 2,044,726. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The firm has a market capitalization of $132.82 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The business has a 50-day simple moving average of $240.07 and a two-hundred day simple moving average of $221.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. Lowe’s Companies’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 EPS. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

Analyst Ratings Changes

A number of analysts have weighed in on LOW shares. Wedbush boosted their price target on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Gordon Haskett reissued a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Piper Sandler raised their price target on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company boosted their price objective on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average price target of $252.52.

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.