OneAscent Wealth Management LLC Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

OneAscent Wealth Management LLC trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 31.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,471 shares of the home improvement retailer’s stock after selling 1,133 shares during the period. OneAscent Wealth Management LLC’s holdings in Lowe’s Companies were worth $629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Lowe’s Companies by 75.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,547 shares of the home improvement retailer’s stock worth $4,686,000 after acquiring an additional 9,697 shares during the period. Bank of Nova Scotia lifted its stake in shares of Lowe’s Companies by 156.2% in the third quarter. Bank of Nova Scotia now owns 116,427 shares of the home improvement retailer’s stock valued at $24,198,000 after purchasing an additional 70,983 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Lowe’s Companies in the third quarter valued at about $40,000. Morningstar Investment Services LLC lifted its stake in shares of Lowe’s Companies by 7.9% in the third quarter. Morningstar Investment Services LLC now owns 3,546 shares of the home improvement retailer’s stock valued at $737,000 after purchasing an additional 260 shares during the period. Finally, Cape Cod Five Cents Savings Bank lifted its stake in shares of Lowe’s Companies by 95.6% in the third quarter. Cape Cod Five Cents Savings Bank now owns 3,768 shares of the home improvement retailer’s stock valued at $783,000 after purchasing an additional 1,842 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Oppenheimer restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. Truist Financial dropped 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 report on Wednesday, May 22nd. Citigroup dropped their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Zelman & Associates restated a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Stock Up 0.3 %

Shares of NYSE LOW traded up $0.66 during trading on Friday, reaching $220.46. 12,630,451 shares of the stock were exchanged, compared to its average volume of 2,428,194. The business’s 50-day moving average price is $225.32 and its 200 day moving average price is $228.26. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The company has a market capitalization of $125.63 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last posted its earnings results 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. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the company posted $3.67 earnings per share. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued 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%.

Lowe’s Companies 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.