Topsail Wealth Management LLC Buys New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Topsail Wealth Management LLC purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,065 shares of the home improvement retailer’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth $25,000. Winch Advisory Services LLC increased its holdings in shares of Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $31,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $33,000. Finally, Millstone Evans Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.1 %

Shares of LOW stock opened at $222.31 on Friday. The stock has a 50 day simple moving average of $229.89 and a 200-day simple moving average of $251.33. The company has a market cap of $124.43 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LOW shares. Piper Sandler cut their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 15th. Truist Financial decreased their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.74.

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.