Commonwealth Financial Services LLC Has $575,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Commonwealth Financial Services LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,466 shares of the home improvement retailer’s stock after purchasing an additional 58 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Lowe’s Companies were worth $575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Lowe’s Companies in the first quarter valued at $32,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $36,000. Inlight Wealth Management LLC bought a new stake in Lowe’s Companies in the first quarter valued at $36,000. Finally, IFS Advisors LLC boosted its stake in Lowe’s Companies by 60.0% in the first 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. Mizuho restated an “outperform” rating and set a $280.00 target price on shares of Lowe’s Companies in a report on Friday, June 13th. Citigroup lowered their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Robert W. Baird decreased their price objective on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.68.

Insiders Place Their Bets

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

Lowe’s Companies Stock Performance

Shares of LOW opened at $238.35 on Thursday. The firm has a market cap of $133.58 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.24 and a beta of 0.89. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The business’s fifty day moving average is $223.81 and its 200-day moving average is $231.28.

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 analysts’ consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe’s Companies’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is presently 39.77%.

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.