Broadway Wealth Solutions Inc. Takes Position in Lowe's Companies, Inc. (NYSE:LOW)

Broadway Wealth Solutions Inc. purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,265 shares of the home improvement retailer's stock, valued at approximately $312,000.

Other large investors have also recently bought and sold shares of the company. IFS Advisors LLC purchased a new position in shares of Lowe's Companies during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Lowe's Companies in the third quarter valued at about $27,000. Winch Advisory Services LLC increased its position in 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 worth $30,000 after purchasing an additional 44 shares during the last quarter. Marshall Investment Management LLC acquired a new position in Lowe's Companies in the 4th quarter worth about $31,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies during the 4th quarter valued at about $33,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Up 0.2 %

LOW stock traded up $0.50 during midday trading on Tuesday, reaching $233.73. 628,929 shares of the company's stock traded hands, compared to its average volume of 2,501,385. The company has a 50-day simple moving average of $245.01 and a two-hundred day simple moving average of $257.24. Lowe's Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company has a market cap of $130.82 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.96 and a beta of 1.12.

Remove Ads

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during 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%. Equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is 37.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Bank of America cut their price target 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. Truist Financial cut their target price on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Guggenheim reiterated a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a research note on Thursday, December 12th. Sanford C. Bernstein increased their price objective on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $279.71.

About Lowe's Companies

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.