Everhart Financial Group Inc. Purchases 453 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Everhart Financial Group Inc. raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,182 shares of the home improvement retailer’s stock after purchasing an additional 453 shares during the period. Everhart Financial Group Inc.’s holdings in Lowe’s Companies were worth $702,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LOW. Pure Financial Advisors LLC boosted its position in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 45 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after buying an additional 46 shares in the last quarter. McAdam LLC grew its position in shares of Lowe’s Companies by 3.5% in the 1st quarter. McAdam LLC now owns 1,363 shares of the home improvement retailer’s stock worth $347,000 after buying an additional 46 shares during the last quarter. First Bank & Trust raised its stake in shares of Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after acquiring an additional 46 shares in the last quarter. Finally, Zhang Financial LLC lifted its position in Lowe’s Companies by 0.6% during the second quarter. Zhang Financial LLC now owns 7,549 shares of the home improvement retailer’s stock valued at $1,664,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $9.76 during trading on Friday, reaching $250.07. The company had a trading volume of 2,648,682 shares, compared to its average volume of 2,537,597. The firm has a market capitalization of $142.50 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The firm’s 50-day simple moving average is $231.99 and its 200 day simple moving average is $232.54. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its 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. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the business earned $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. DA Davidson reduced their price target on 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. Piper Sandler reduced their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America lowered their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lifted their target price 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. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $252.96.

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.