NewEdge Wealth LLC Buys 12,199 Shares of Lowe's Companies, Inc. (NYSE:LOW)

NewEdge Wealth LLC raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,624 shares of the home improvement retailer's stock after purchasing an additional 12,199 shares during the period. NewEdge Wealth LLC's holdings in Lowe's Companies were worth $23,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of LOW. Vaughan David Investments LLC IL increased its stake in shares of Lowe's Companies by 1.0% in the fourth quarter. Vaughan David Investments LLC IL now owns 6,070 shares of the home improvement retailer's stock worth $1,351,000 after purchasing an additional 62 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in Lowe's Companies in the 4th quarter valued at approximately $216,000. Lodestar Private Asset Management LLC bought a new stake in Lowe's Companies during the 4th quarter valued at $201,000. RPG Investment Advisory LLC lifted its position in shares of Lowe's Companies by 2.5% during the fourth quarter. RPG Investment Advisory LLC now owns 28,651 shares of the home improvement retailer's stock worth $6,376,000 after acquiring an additional 705 shares in the last quarter. Finally, Cornerstone Wealth Group LLC boosted its holdings in shares of Lowe's Companies by 190.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 18,635 shares of the home improvement retailer's stock worth $4,147,000 after acquiring an additional 12,214 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Trading Down 1.4 %

Shares of NYSE:LOW traded down $3.36 on Friday, reaching $232.08. 2,117,385 shares of the company traded hands, compared to its average volume of 2,581,972. Lowe's Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The business's 50-day simple moving average is $238.46 and its 200 day simple moving average is $217.73. The stock has a market capitalization of $132.79 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. Lowe's Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same period last year, the company earned $2.28 EPS. Lowe's Companies's revenue for the quarter was down 17.1% compared to the same quarter last year. Sell-side analysts expect that Lowe's Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.90%. Lowe's Companies's dividend payout ratio is currently 33.43%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of analyst reports. Gordon Haskett reiterated a "hold" rating and set a $245.00 price objective on shares of Lowe's Companies in a research note on Wednesday, April 3rd. Stifel Nicolaus lowered their price target on shares of Lowe's Companies from $240.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, February 16th. Piper Sandler boosted their price objective on shares of Lowe's Companies from $218.00 to $245.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Evercore ISI upped their target price on shares of Lowe's Companies from $250.00 to $270.00 and gave the stock an "in-line" rating in a report on Tuesday, March 26th. Finally, Barclays raised their price target on shares of Lowe's Companies from $203.00 to $229.00 and gave the company an "equal weight" rating in a report on Thursday, January 4th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $252.33.

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.

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