Strong Tower Advisory Services Grows Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Strong Tower Advisory Services grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 38.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,357 shares of the home improvement retailer's stock after buying an additional 3,739 shares during the quarter. Strong Tower Advisory Services' holdings in Lowe's Companies were worth $2,898,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter worth $25,000. Marshall Investment Management LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth $31,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Lowe's Companies during the 4th quarter worth $33,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth $36,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of Lowe's Companies during the 4th quarter worth $42,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, DA Davidson reduced their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Stock Performance

Lowe's Companies stock traded up $0.67 during midday trading on Thursday, hitting $229.06. 510,251 shares of the company were exchanged, compared to its average volume of 2,510,700. The firm has a market capitalization of $128.21 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The business has a fifty day simple moving average of $224.01 and a two-hundred day simple moving average of $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, topping analysts' consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.06 earnings per share. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given 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 2.10%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is currently 39.77%.

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.