Brendel Financial Advisors LLC acquired a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,446 shares of the home improvement retailer's stock, valued at approximately $3,438,000. Lowe's Companies comprises approximately 2.3% of Brendel Financial Advisors LLC's investment portfolio, making the stock its 10th largest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbour Trust & Investment Management Co acquired a new position in Lowe's Companies during the fourth quarter worth $5,890,000. Meridian Wealth Management LLC increased its stake in shares of Lowe's Companies by 100.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer's stock worth $6,492,000 after purchasing an additional 15,612 shares during the last quarter. Biondo Investment Advisors LLC increased its stake in shares of Lowe's Companies by 1.0% during the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer's stock worth $12,669,000 after purchasing an additional 620 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Lowe's Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer's stock valued at $829,000 after purchasing an additional 584 shares during the last quarter. Finally, Legacy CG LLC grew its holdings in Lowe's Companies by 25.0% during the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer's stock worth $5,107,000 after purchasing an additional 4,583 shares during the period. 74.06% of the stock is owned by institutional investors.
Lowe's Companies Stock Performance
Shares of NYSE LOW traded up $1.45 during trading hours on Friday, hitting $230.24. 2,112,314 shares of the stock were exchanged, compared to its average volume of 2,254,721. The company's fifty day simple moving average is $239.62 and its two-hundred day simple moving average is $218.89. The company has a market cap of $131.74 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. Lowe's Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.
Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter last year, the business posted $2.28 EPS. The company's revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe's Companies, Inc. will post 12.21 EPS for the current fiscal year.
Lowe's Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe's Companies's payout ratio is 33.43%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. UBS Group upped their price objective on Lowe's Companies from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Wells Fargo & Company raised their price target on Lowe's Companies from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, February 13th. Stifel Nicolaus decreased their price objective 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. DA Davidson reissued a "neutral" rating and issued a $270.00 price objective on shares of Lowe's Companies in a research report on Wednesday, March 27th. Finally, Morgan Stanley lifted their target price on shares of Lowe's Companies from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $252.52.
Read Our Latest Analysis on LOW
Lowe's Companies Profile
(
Free Report)
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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