EverSource Wealth Advisors LLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

EverSource Wealth Advisors LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 34.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,282 shares of the home improvement retailer’s stock after acquiring an additional 1,088 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LOW. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies during the fourth quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth about $31,000. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $35,000. Finally, Raleigh Capital Management Inc. increased its holdings in Lowe’s Companies by 48.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $262.29 on Tuesday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a 50-day simple moving average of $244.18 and a 200-day simple moving average of $235.47. The stock has a market capitalization of $149.46 billion, a P/E ratio of 21.07, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business earned $4.56 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent research reports. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Truist Financial increased their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday. They issued a “buy” rating and a $290.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.