Buckley Wealth Management LLC Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Buckley Wealth Management LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,462 shares of the home improvement retailer’s stock after selling 234 shares during the period. Lowe’s Companies accounts for 0.8% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Buckley Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies in the 4th quarter worth about $25,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter valued at $26,000. Tidemark LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies during the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LOW shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI cut their price objective on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a report on Wednesday, May 22nd. Truist Financial cut their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Mizuho started coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective 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. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Trading Up 0.6 %

Lowe’s Companies stock traded up $1.23 during midday trading on Friday, reaching $221.03. 1,257,540 shares of the stock traded hands, compared to its average volume of 2,462,973. The firm has a fifty day moving average price of $225.69 and a two-hundred day moving average price of $228.22. The firm has a market cap of $125.95 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.68 and a beta of 1.08. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

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 for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the business posted $3.67 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.27%. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

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.