Merit Financial Group LLC Acquires 7,580 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Merit Financial Group LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 39.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,873 shares of the home improvement retailer’s stock after buying an additional 7,580 shares during the quarter. Merit Financial Group LLC’s holdings in Lowe’s Companies were worth $6,268,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LOW. Brighton Jones LLC raised its holdings in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after purchasing an additional 259 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Lowe’s Companies by 13.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,962 shares of the home improvement retailer’s stock worth $731,000 after purchasing an additional 358 shares during the last quarter. Jennison Associates LLC raised its holdings in Lowe’s Companies by 43.5% during the 4th quarter. Jennison Associates LLC now owns 278,009 shares of the home improvement retailer’s stock worth $68,613,000 after purchasing an additional 84,337 shares during the last quarter. Finally, Financial Life Planners bought a new position in Lowe’s Companies during the 4th quarter worth approximately $45,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $228.81 on Wednesday. The company has a market capitalization of $128.07 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.96 and a beta of 1.00. The firm’s fifty day moving average price is $224.00 and its two-hundred day moving average price is $242.35. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 EPS. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is 39.77%.

Analyst Upgrades and Downgrades

LOW has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Stifel Nicolaus lowered their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Citigroup reiterated a “neutral” rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $271.12.

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.