Fifth Third Wealth Advisors LLC Invests $239,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Fifth Third Wealth Advisors LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 940 shares of the home improvement retailer’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Paragon Private Wealth Management LLC grew its holdings in Lowe’s Companies by 13.5% during the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock worth $1,086,000 after acquiring an additional 581 shares during the period. ING Groep NV boosted its position in Lowe’s Companies by 18,786.5% during the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock worth $23,748,000 after purchasing an additional 106,144 shares in the last quarter. Clifford Swan Investment Counsel LLC boosted its position in Lowe’s Companies by 0.3% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after purchasing an additional 541 shares in the last quarter. Brevan Howard Capital Management LP boosted its position in Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Lowe’s Companies by 1.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock worth $10,031,000 after purchasing an additional 540 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOW. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Mizuho began coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target on the stock. Evercore ISI lowered their price target on Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 22nd. DA Davidson decreased their target price 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. Finally, Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.33.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $0.66 during trading on Friday, reaching $220.46. The stock had a trading volume of 12,593,630 shares, compared to its average volume of 2,554,393. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The business’s 50-day moving average price is $225.69 and its 200-day moving average price is $228.22. The company has a market cap of $125.63 billion, a P/E ratio of 17.66, a PEG ratio of 1.68 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. Analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

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

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.