Forvis Mazars Wealth Advisors LLC Has $8.45 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Forvis Mazars Wealth Advisors LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,211 shares of the home improvement retailer’s stock after acquiring an additional 1,142 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $8,446,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies during the 4th quarter worth $25,000. Fairway Wealth LLC bought a new position in Lowe’s Companies during the 1st quarter worth $32,000. Orion Capital Management LLC bought a new position in Lowe’s Companies during the 4th quarter worth $36,000. Inlight Wealth Management LLC bought a new position in Lowe’s Companies during the 1st quarter worth $36,000. Finally, IFS Advisors LLC increased its stake in Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 60 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $251.86 on Friday. The company has a fifty day moving average of $226.61 and a 200-day moving average of $230.50. The company has a market capitalization of $141.15 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.39 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.

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 company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $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, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe’s Companies’s payout ratio is presently 39.77%.

Insider Buying and Selling at Lowe’s Companies

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

Analysts Set New Price Targets

A number of equities analysts have commented on LOW shares. Mizuho restated an “outperform” rating and set a $280.00 price objective on shares of Lowe’s Companies in a research note on Friday, June 13th. Morgan Stanley lowered their price objective on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. 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 report on Thursday, May 22nd. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Finally, DA Davidson lowered their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.68.

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.