Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Sunburst Financial Group LLC

Sunburst Financial Group LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,131 shares of the home improvement retailer’s stock after purchasing an additional 218 shares during the period. Sunburst Financial Group LLC’s holdings in Lowe’s Companies were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Management Group Inc. grew its holdings in Lowe’s Companies by 4.0% in the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after purchasing an additional 46 shares during the last quarter. First Command Advisory Services Inc. grew its stake in Lowe’s Companies by 1.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after acquiring an additional 48 shares during the last quarter. Jag Capital Management LLC increased its holdings in Lowe’s Companies by 0.3% during the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock valued at $3,510,000 after acquiring an additional 48 shares in the last quarter. Hamilton Capital LLC raised its position in Lowe’s Companies by 2.1% during the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after acquiring an additional 49 shares during the last quarter. Finally, Abundance Wealth Counselors lifted its holdings in shares of Lowe’s Companies by 0.8% in the fourth quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock valued at $1,485,000 after purchasing an additional 50 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LOW. Gordon Haskett reissued a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Mizuho initiated coverage on Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Truist Financial cut their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Stock Up 0.3 %

Shares of LOW stock traded up $0.68 during mid-day trading on Friday, reaching $220.48. The company’s stock had a trading volume of 528,756 shares, compared to its average volume of 2,457,096. The firm has a market capitalization of $125.64 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The company’s 50 day simple moving average is $225.69 and its 200-day simple moving average is $228.22. 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 issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 earnings per share. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced 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 of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio (DPR) 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.