Main Street Financial Solutions LLC Invests $950,000 in Lowe’s Companies, Inc. $LOW

Main Street Financial Solutions LLC bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,309 shares of the home improvement retailer’s stock, valued at approximately $950,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Providence Wealth Advisors LLC raised its position in Lowe’s Companies by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 7,969 shares of the home improvement retailer’s stock worth $1,959,000 after acquiring an additional 36 shares during the period. Rather & Kittrell Inc. grew its position in shares of Lowe’s Companies by 0.4% in the fourth quarter. Rather & Kittrell Inc. now owns 10,379 shares of the home improvement retailer’s stock valued at $2,503,000 after purchasing an additional 38 shares during the period. First Command Advisory Services Inc. grew its position in shares of Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 2,947 shares of the home improvement retailer’s stock valued at $711,000 after purchasing an additional 38 shares during the period. Smithbridge Asset Management Inc. DE increased its stake in shares of Lowe’s Companies by 1.1% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 3,723 shares of the home improvement retailer’s stock worth $898,000 after purchasing an additional 39 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its stake in shares of Lowe’s Companies by 0.6% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,140 shares of the home improvement retailer’s stock worth $1,481,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other news, EVP Janice Dupre sold 14,150 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the transaction, the executive vice president owned 39,785 shares of the company’s stock, valued at approximately $8,828,291.50. The trade was a 26.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the completion of the transaction, the executive vice president owned 16,142 shares in the company, valued at $3,628,883.02. The trade was a 36.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,980 shares of company stock worth $5,796,937 in the last quarter. Company insiders own 0.29% of the company’s stock.

Trending Headlines about Lowe’s Companies

Here are the key news stories impacting Lowe’s Companies this week:

• Positive Sentiment: Investors are looking for Lowe’s Pro customer growth, online sales momentum and expansion in home services to support results. The company’s Total Home strategy is also viewed as a longer-term value-creation opportunity. Is Lowe’s a Buy Ahead of Earnings
• Positive Sentiment: Wall Street expects revenue growth to accelerate materially from the prior-year period, while largely steady analyst estimates suggest relatively firm confidence in Lowe’s near-term operating outlook. Analysts maintain a consensus “Moderate Buy” rating. Expected Revenue Acceleration and Steady Forecasts
• Neutral Sentiment: The earnings release is expected to produce a sizable share-price move, with investors focused on comparable-store sales, gross margins, earnings guidance and management’s view of housing-related demand. Expected Earnings Moves for Home Depot and Lowe’s
• Neutral Sentiment: Lowe’s reports alongside other major retailers, including Target and recently Home Depot, giving investors a broader read on U.S. consumer spending and the home-improvement market. Target or Lowe’s Ahead of Earnings
• Negative Sentiment: Weak do-it-yourself demand, cautious consumers and limited housing activity could offset strength in Pro sales, digital channels and services. Higher costs may also pressure margins, making the earnings beat-and-guidance combination especially important. Lowe’s Earnings Preview
• Negative Sentiment: The shares remain well below their 52-week high and below their longer-term moving average, reflecting investor concern that Lowe’s may remain dependent on a delayed housing recovery. Comparisons with Home Depot, which is viewed as having steadier estimates, add competitive pressure. Lowe’s Q2 Earnings Preview

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Oppenheimer decreased their price target on shares of Lowe’s Companies from $315.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Craig Hallum upgraded Lowe’s Companies to a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada reduced their target price on Lowe’s Companies from $232.00 to $231.00 and set a “sector perform” rating for the company in a report on Wednesday, August 12th. William Blair assumed coverage on Lowe’s Companies in a research report on Tuesday, May 12th. They issued an “overweight” rating on the stock. Finally, The Goldman Sachs Group lowered their price target on Lowe’s Companies from $300.00 to $293.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Twenty-three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.63.

Lowe’s Companies Trading Up 0.1%

Shares of NYSE LOW opened at $215.94 on Wednesday. The stock has a market cap of $121.08 billion, a PE ratio of 18.25, a P/E/G ratio of 2.79 and a beta of 0.86. Lowe’s Companies, Inc. has a 12-month low of $199.40 and a 12-month high of $293.06. The company has a 50-day moving average of $216.12 and a 200 day moving average of $233.78.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.06. The business had revenue of $23.08 billion for the quarter, compared to analysts’ expectations of $22.98 billion. Lowe’s Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.92 EPS. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.43 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, July 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. Lowe’s Companies’s payout ratio is presently 42.27%.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.