Catalina Capital Group LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Catalina Capital Group LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,497 shares of the home improvement retailer’s stock after purchasing an additional 447 shares during the period. Catalina Capital Group LLC’s holdings in Lowe’s Companies were worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $31,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LOW. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Bank of America cut their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday. UBS Group boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Truist Financial boosted their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $252.96.

Lowe’s Companies Trading Up 4.1 %

LOW traded up $9.76 during trading on Friday, hitting $250.07. 2,648,682 shares of the company’s stock were exchanged, compared to its average volume of 2,537,597. The firm has a market cap of $142.50 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The stock has a 50 day moving average price of $231.99 and a 200 day moving average price of $232.54. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. Lowe’s Companies’s dividend payout ratio (DPR) 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.