Fifth Third Wealth Advisors LLC Has $11.07 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Fifth Third Wealth Advisors LLC boosted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,479 shares of the home improvement retailer's stock after purchasing an additional 19,164 shares during the quarter. Lowe's Companies comprises 0.6% of Fifth Third Wealth Advisors LLC's holdings, making the stock its 29th biggest position. Fifth Third Wealth Advisors LLC's holdings in Lowe's Companies were worth $11,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peoples Bank KS increased its position in Lowe's Companies by 1.2% in the 1st quarter. Peoples Bank KS now owns 8,986 shares of the home improvement retailer's stock valued at $2,096,000 after acquiring an additional 109 shares during the period. Dumont & Blake Investment Advisors LLC lifted its stake in shares of Lowe's Companies by 1.1% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock worth $1,066,000 after acquiring an additional 49 shares during the period. Somerset Trust Co lifted its holdings in Lowe's Companies by 2.9% in the 1st quarter. Somerset Trust Co now owns 30,429 shares of the home improvement retailer's stock valued at $7,097,000 after acquiring an additional 854 shares during the last quarter. BTC Capital Management Inc. boosted its holdings in Lowe's Companies by 1.4% during the first quarter. BTC Capital Management Inc. now owns 30,833 shares of the home improvement retailer's stock worth $7,191,000 after buying an additional 434 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its holdings in shares of Lowe's Companies by 1.7% in the first quarter. Burns J W & Co. Inc. NY now owns 26,474 shares of the home improvement retailer's stock valued at $6,175,000 after buying an additional 444 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

NYSE LOW traded up $0.76 during trading hours on Thursday, reaching $229.15. 488,677 shares of the company's stock were exchanged, compared to its average volume of 2,510,566. The company has a market capitalization of $128.26 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The company's 50-day moving average is $224.01 and its two-hundred day moving average is $242.26.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. Research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.09%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Analysts Set New Price Targets

Several brokerages have recently commented on LOW. Citigroup restated a "neutral" rating and set a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Morgan Stanley decreased 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 report on Monday, May 5th. Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Mizuho set a $280.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies 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.