Fifth Third Wealth Advisors LLC Buys 19,164 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 67.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,479 shares of the home improvement retailer’s stock after acquiring an additional 19,164 shares during the quarter. Lowe’s Companies makes up approximately 0.6% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 29th biggest position. Fifth Third Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $11,074,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $31,000. Caisse Des Depots ET Consignations bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $33,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $36,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $42,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their price target on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 price target on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Royal Bank of Canada lowered their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a report on Thursday, May 22nd. Finally, DA Davidson lowered their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $271.12.

Lowe’s Companies Stock Performance

NYSE LOW opened at $225.57 on Friday. The company has a market cap of $126.25 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.00. The business’s 50 day moving average price is $224.20 and its 200-day moving average price is $242.95. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.04. The firm 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%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.13%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is currently 38.11%.

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.