Abound Financial LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Abound Financial LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 493 shares of the home improvement retailer’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Gen Wealth Partners Inc grew its stake in shares of Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after buying an additional 40 shares during the period. Peachtree Investment Partners LLC increased its stake in Lowe’s Companies by 3.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer’s stock worth $317,000 after acquiring an additional 42 shares during the last quarter. Second Line Capital LLC raised its position in Lowe’s Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock valued at $1,183,000 after purchasing an additional 44 shares during the period. Dumont & Blake Investment Advisors LLC raised its position in Lowe’s Companies by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer’s stock valued at $1,066,000 after purchasing an additional 49 shares during the period. Finally, Sollinda Capital Management LLC lifted its stake in shares of Lowe’s Companies by 0.8% in the 4th quarter. Sollinda Capital Management LLC now owns 6,703 shares of the home improvement retailer’s stock valued at $1,654,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.5%

Shares of LOW opened at $228.00 on Monday. The stock has a 50 day moving average price of $223.98 and a 200 day moving average price of $234.86. The company has a market capitalization of $127.78 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the previous year, the firm earned $3.06 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal 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 given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.11%. Lowe’s Companies’s payout ratio is 38.11%.

Analysts Set New Price Targets

A number of research analysts have commented on LOW shares. Robert W. Baird decreased their target price 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. Piper Sandler dropped their target price 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. Morgan Stanley decreased their price target on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company dropped their price objective on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.