Successful Portfolios LLC Acquires New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Successful Portfolios LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 840 shares of the home improvement retailer’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at $25,000. Tidemark LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at $28,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies in the third quarter valued at $26,000. Finally, Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at $31,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.3 %

Lowe’s Companies stock opened at $220.46 on Monday. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s 50 day moving average price is $225.32 and its two-hundred day moving average price is $228.49. The stock has a market cap of $125.63 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.69 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 the consensus estimate 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 firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm earned $3.67 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current 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 is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

A number of brokerages have weighed in on LOW. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Mizuho began coverage on Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target for the company. Citigroup decreased their price target on 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 reiterated a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $251.33.

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.