Oak Harvest Investment Services Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Oak Harvest Investment Services bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 833 shares of the home improvement retailer’s stock, valued at approximately $212,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Powers Advisory Group LLC boosted its holdings in shares of Lowe’s Companies by 19.4% in the first quarter. Powers Advisory Group LLC now owns 1,450 shares of the home improvement retailer’s stock valued at $369,000 after acquiring an additional 236 shares during the period. Spinnaker Investment Group LLC purchased a new position in shares of Lowe’s Companies during the first quarter worth about $227,000. First Trust Direct Indexing L.P. increased its position in Lowe’s Companies by 11.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 15,580 shares of the home improvement retailer’s stock valued at $3,969,000 after acquiring an additional 1,641 shares during the period. Cornerstone Wealth Management LLC raised its stake in Lowe’s Companies by 2.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 21,069 shares of the home improvement retailer’s stock valued at $5,367,000 after acquiring an additional 403 shares during the last quarter. Finally, Norden Group LLC lifted its position in Lowe’s Companies by 2,219.9% during the 1st quarter. Norden Group LLC now owns 95,115 shares of the home improvement retailer’s stock worth $24,228,000 after acquiring an additional 91,015 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOW. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI reduced their price target on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. DA Davidson decreased their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $250.41.

Lowe’s Companies Stock Down 0.2 %

Shares of LOW stock opened at $213.30 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm’s 50 day moving average price is $223.89 and its two-hundred day moving average price is $228.11. The stock has a market cap of $121.55 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.63 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 earnings per share for the quarter, beating 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 business had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the business posted $3.67 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. Lowe’s Companies’s payout ratio is currently 35.34%.

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.