Carret Asset Management LLC Buys 81 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Carret Asset Management LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,781 shares of the home improvement retailer’s stock after buying an additional 81 shares during the period. Carret Asset Management LLC’s holdings in Lowe’s Companies were worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its position in shares of Lowe’s Companies by 1,511.4% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 24,349 shares of the home improvement retailer’s stock worth $5,419,000 after purchasing an additional 22,838 shares in the last quarter. Summit Global Investments lifted its holdings in Lowe’s Companies by 70.7% during the fourth quarter. Summit Global Investments now owns 2,688 shares of the home improvement retailer’s stock worth $598,000 after acquiring an additional 1,113 shares in the last quarter. 9258 Wealth Management LLC grew its stake in Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after acquiring an additional 474 shares during the period. LSV Asset Management increased its holdings in shares of Lowe’s Companies by 63.4% in the fourth quarter. LSV Asset Management now owns 276,912 shares of the home improvement retailer’s stock worth $61,627,000 after acquiring an additional 107,482 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter worth about $895,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.7 %

Shares of LOW traded up $1.73 during mid-day trading on Monday, reaching $248.50. The company’s stock had a trading volume of 2,587,100 shares, compared to its average volume of 2,522,406. The stock has a market cap of $141.60 billion, a P/E ratio of 19.96, a PEG ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business has a 50-day simple moving average of $234.08 and a two-hundred day simple moving average of $233.55.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.56 earnings per share. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.94 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.85%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial boosted their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. UBS Group increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Evercore ISI increased their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Finally, Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

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.