Jacksonville Wealth Management LLC Makes New Investment in Lowe's Companies, Inc. (NYSE:LOW)

Jacksonville Wealth Management LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,388 shares of the home improvement retailer's stock, valued at approximately $557,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Klingenstein Fields & Co. LP grew its holdings in Lowe's Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer's stock worth $1,012,000 after acquiring an additional 39 shares during the period. Gen Wealth Partners Inc boosted its position in shares of Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock valued at $534,000 after purchasing an additional 40 shares in the last quarter. Cordatus Wealth Management LLC grew its stake in shares of Lowe's Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer's stock worth $3,705,000 after purchasing an additional 41 shares during the last quarter. O Brien Greene & Co. Inc grew its stake in shares of Lowe's Companies by 1.5% in the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer's stock worth $715,000 after purchasing an additional 42 shares during the last quarter. Finally, FFT Wealth Management LLC raised its holdings in shares of Lowe's Companies by 3.1% in the 4th quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer's stock worth $340,000 after purchasing an additional 42 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Price Performance

Lowe's Companies stock traded down $6.51 during trading hours on Friday, hitting $216.99. The company had a trading volume of 2,425,924 shares, compared to its average volume of 2,526,279. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The firm's fifty day moving average is $223.77 and its 200-day moving average is $239.88.

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

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given 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 yield of 2.21%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is presently 39.77%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Piper Sandler cut their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Mizuho restated an "outperform" rating and issued a $280.00 target price on shares of Lowe's Companies in a report on Friday. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $271.12.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

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.