SteelPeak Wealth LLC Has $2.30 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

SteelPeak Wealth LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,030 shares of the home improvement retailer’s stock after selling 478 shares during the period. SteelPeak Wealth LLC’s holdings in Lowe’s Companies were worth $2,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. acquired a new position in Lowe’s Companies during the fourth quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new position in Lowe’s Companies during the third quarter valued at approximately $26,000. Tidemark LLC acquired a new position in Lowe’s Companies during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth $28,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth $31,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Truist Financial lowered their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. DA Davidson reduced their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Finally, Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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 opened at $220.46 on Monday. The firm has a market cap of $125.63 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a 50-day moving average price of $225.32 and a 200 day moving average price of $228.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 EPS. Sell-side analysts predict 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 will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 35.34%.

Lowe’s Companies Company 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.