Oak Associates Ltd. OH Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Oak Associates Ltd. OH cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,524 shares of the home improvement retailer’s stock after selling 487 shares during the quarter. Lowe’s Companies comprises approximately 1.5% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 21st biggest holding. Oak Associates Ltd. OH’s holdings in Lowe’s Companies were worth $23,264,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Paragon Private Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 13.5% in the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares during the period. ING Groep NV increased its holdings in Lowe’s Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock worth $23,748,000 after buying an additional 106,144 shares during the period. Brevan Howard Capital Management LP raised its position in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after buying an additional 13,680 shares during the last quarter. Bamco Inc. NY lifted its stake in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares during the period. Finally, Plato Investment Management Ltd lifted its stake in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent research reports. Gordon Haskett reduced their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Piper Sandler lowered their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Evercore ISI raised 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, Wells Fargo & Company decreased their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Trading Up 1.3 %

NYSE:LOW opened at $255.41 on Friday. The stock has a 50 day moving average of $240.11 and a two-hundred day moving average of $234.78. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm has a market cap of $144.89 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate 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 negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.56 earnings per share. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.