Moran Wealth Management LLC Raises Stock Position in Lowe’s Companies, Inc. $LOW

Moran Wealth Management LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,140 shares of the home improvement retailer’s stock after acquiring an additional 6,400 shares during the period. Moran Wealth Management LLC’s holdings in Lowe’s Companies were worth $16,370,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. SeaBridge Investment Advisors LLC boosted its holdings in Lowe’s Companies by 3.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 465 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Lowe’s Companies by 2.6% in the second quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after acquiring an additional 3,947 shares in the last quarter. Strathmore Capital Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the second quarter worth approximately $2,717,000. First Pacific Financial increased its position in shares of Lowe’s Companies by 147.3% during the second quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock worth $611,000 after purchasing an additional 1,639 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after purchasing an additional 5,820 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $247.16 on Thursday. The firm has a 50 day simple moving average of $240.07 and a 200-day simple moving average of $242.10. The stock has a market cap of $138.64 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 4.09 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $274.98.

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

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LOW shares. Stifel Nicolaus raised their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Monday, December 1st. HSBC decreased their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. Sanford C. Bernstein boosted their price target on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. Finally, Argus decreased their target price on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.52.

Lowe’s Companies Company Profile

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.