Bernard Wealth Management Corp. Takes Position in Lowe's Companies, Inc. (NYSE:LOW)

Bernard Wealth Management Corp. acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,639 shares of the home improvement retailer's stock, valued at approximately $1,145,000. Lowe's Companies accounts for 0.8% of Bernard Wealth Management Corp.'s holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Principal Financial Group Inc. increased its holdings in Lowe's Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock worth $175,944,000 after purchasing an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Lowe's Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Lowe's Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock valued at $98,104,000 after buying an additional 4,435 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Lowe's Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock valued at $4,894,000 after acquiring an additional 501 shares in the last quarter. Finally, World Investment Advisors boosted its position in Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after acquiring an additional 2,615 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

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Lowe's Companies Price Performance

Lowe's Companies stock traded down $1.09 during trading hours on Friday, reaching $220.11. The company had a trading volume of 2,903,271 shares, compared to its average volume of 2,462,266. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The company has a 50-day moving average price of $236.25 and a 200 day moving average price of $254.37. The firm has a market cap of $123.20 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.09%. Lowe's Companies's payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOW. Mizuho lowered their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Truist Financial decreased their price objective on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Bank of America dropped their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.