Powers Advisory Group LLC Acquires 118 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Powers Advisory Group LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,659 shares of the home improvement retailer’s stock after purchasing an additional 118 shares during the period. Powers Advisory Group LLC’s holdings in Lowe’s Companies were worth $387,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at $25,000. Marshall Investment Management LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Caisse Des Depots ET Consignations bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $36,000. Finally, IFS Advisors LLC boosted its stake in Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $216.99 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The company’s 50-day simple moving average is $223.77 and its 200-day simple moving average is $240.11. The stock has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. Lowe’s Companies’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast 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. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

LOW has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Truist Financial set a $264.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley dropped their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Piper Sandler lowered their price target on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Robert W. Baird reduced their price objective on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.12.

About Lowe’s Companies

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.