Cornerstone Advisors LLC Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Advisors LLC lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,000 shares of the home improvement retailer’s stock after selling 200 shares during the period. Cornerstone Advisors LLC’s holdings in Lowe’s Companies were worth $5,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. 9258 Wealth Management LLC increased its position in Lowe’s Companies by 24.8% during the 4th quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after purchasing an additional 474 shares during the period. Gryphon Financial Partners LLC raised its stake in Lowe’s Companies by 10.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock worth $315,000 after buying an additional 138 shares in the last quarter. Financial Advocates Investment Management boosted its position in Lowe’s Companies by 3.4% during the 4th quarter. Financial Advocates Investment Management now owns 3,949 shares of the home improvement retailer’s stock valued at $879,000 after acquiring an additional 129 shares in the last quarter. TrinityPoint Wealth LLC grew its holdings in shares of Lowe’s Companies by 1.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 6,887 shares of the home improvement retailer’s stock worth $1,533,000 after acquiring an additional 101 shares during the period. Finally, PineStone Asset Management Inc. raised its position in shares of Lowe’s Companies by 119.1% in the 4th quarter. PineStone Asset Management Inc. now owns 527,723 shares of the home improvement retailer’s stock worth $117,445,000 after acquiring an additional 286,836 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

NYSE LOW opened at $255.41 on Monday. The stock has a market capitalization of $144.89 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business’s fifty day moving average price is $240.11 and its 200-day moving average price is $234.75.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for 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 was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 earnings per share. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced 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. This represents a $4.60 annualized dividend and a yield of 1.80%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LOW shares. Evercore ISI upped their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective 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. Bank of America decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Piper Sandler dropped their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.