Wedgewood Investors Inc. PA Buys Shares of 1,309 Lowe’s Companies, Inc. (NYSE:LOW)

Wedgewood Investors Inc. PA purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,309 shares of the home improvement retailer’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also modified their holdings of LOW. Tidemark LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter worth $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies during the 4th quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $33,000. Finally, Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies in the first quarter valued at about $35,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Piper Sandler lowered their price objective 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. Stifel Nicolaus increased their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Wells Fargo & Company lowered their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $254.04.

Lowe’s Companies Stock Up 4.1 %

LOW traded up $9.76 during midday trading on Friday, hitting $250.07. The company had a trading volume of 2,685,374 shares, compared to its average volume of 2,537,597. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock’s 50 day moving average price is $231.99 and its 200 day moving average price is $232.72. The company has a market capitalization of $142.50 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business earned $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s payout ratio is 36.95%.

Lowe’s Companies 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.