Oak Harvest Investment Services Buys New Position in Lowe’s Companies, Inc. $LOW

Oak Harvest Investment Services purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, Holdings Channel.com reports. The fund purchased 2,379 shares of the home improvement retailer’s stock, valued at approximately $598,000.

Several other large investors have also bought and sold shares of LOW. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 0.7% in the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after purchasing an additional 366,977 shares during the last quarter. State Street Corp grew its position in Lowe’s Companies by 0.8% in the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after purchasing an additional 207,826 shares in the last quarter. Geode Capital Management LLC grew its position in Lowe’s Companies by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after purchasing an additional 42,190 shares in the last quarter. Norges Bank purchased a new stake in Lowe’s Companies in the 2nd quarter valued at about $1,773,624,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Lowe’s Companies by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock worth $784,559,000 after buying an additional 34,382 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Down 0.3%

Shares of NYSE:LOW opened at $243.80 on Tuesday. The firm has a market capitalization of $136.76 billion, a PE ratio of 20.22, a P/E/G ratio of 4.05 and a beta of 0.96. The company has a 50-day moving average price of $239.90 and a two-hundred day moving average price of $240.77. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the prior year, the company posted $2.89 EPS. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe’s Companies’s payout ratio is 39.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LOW shares. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. upped their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Royal Bank Of Canada lowered their target price on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 20th. Sanford C. Bernstein increased their price target on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, DA Davidson decreased their price objective on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $276.80.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.