Gradient Investments LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Gradient Investments LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,363 shares of the home improvement retailer’s stock after buying an additional 9,920 shares during the period. Gradient Investments LLC’s holdings in Lowe’s Companies were worth $18,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $25,000. Tidemark LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $28,000. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter valued at about $35,000. Finally, Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent research reports. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup cut their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Royal Bank of Canada restated a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. DA Davidson cut their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $250.19.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.09 during midday trading on Friday, reaching $241.15. The stock had a trading volume of 1,725,785 shares, compared to its average volume of 2,529,547. The stock has a market capitalization of $137.42 billion, a P/E ratio of 19.37, a PEG ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The firm’s fifty day simple moving average is $229.89 and its 200-day simple moving average is $231.63.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the business posted $3.67 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 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.