Steigerwald Gordon & Koch Inc. Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Steigerwald Gordon & Koch Inc. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,062 shares of the home improvement retailer’s stock after buying an additional 107 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Lowe’s Companies were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Norges Bank bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $1,638,746,000. Vanguard Group Inc. lifted its stake in shares of Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. M&G Plc purchased a new stake in shares of Lowe’s Companies in the first quarter worth approximately $217,995,000. Finally, Pathstone Holdings LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $126,615,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOW. Truist Financial increased their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Piper Sandler cut their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Trading Up 0.0 %

NYSE:LOW traded up $0.03 on Tuesday, reaching $244.76. The stock had a trading volume of 84,754 shares, compared to its average volume of 2,495,402. The company has a 50-day moving average of $237.15 and a 200 day moving average of $234.30. The stock has a market cap of $138.85 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.88%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.