Tidemark LLC Makes New $27,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Tidemark LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 123 shares of the home improvement retailer’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Lincoln National Corp grew its holdings in shares of Lowe’s Companies by 9.7% during the third quarter. Lincoln National Corp now owns 11,309 shares of the home improvement retailer’s stock worth $2,350,000 after buying an additional 1,002 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of Lowe’s Companies by 1.6% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 20,766 shares of the home improvement retailer’s stock worth $4,316,000 after acquiring an additional 320 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Lowe’s Companies by 0.3% in the third quarter. Victory Capital Management Inc. now owns 546,501 shares of the home improvement retailer’s stock worth $113,585,000 after purchasing an additional 1,461 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in Lowe’s Companies by 22.5% during the third quarter. Nicholas Hoffman & Company LLC. now owns 2,583 shares of the home improvement retailer’s stock worth $537,000 after purchasing an additional 475 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Lowe’s Companies by 57.1% in the third quarter. Assenagon Asset Management S.A. now owns 95,612 shares of the home improvement retailer’s stock valued at $19,872,000 after purchasing an additional 34,734 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOW. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday. Gordon Haskett reiterated a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Finally, Truist Financial decreased their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded down $2.27 during trading on Friday, reaching $215.21. 2,632,395 shares of the stock traded hands, compared to its average volume of 2,182,965. The company has a 50-day moving average of $236.44 and a 200-day moving average of $224.81. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The stock has a market capitalization of $123.14 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 12.22 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 35.34%.

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.