Equita Financial Network Inc. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Equita Financial Network Inc. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% during the 2nd quarter, Holdings Channel reports. The fund owned 4,742 shares of the home improvement retailer’s stock after selling 447 shares during the quarter. Equita Financial Network Inc.’s holdings in Lowe’s Companies were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sage Mountain Advisors LLC boosted its holdings in Lowe’s Companies by 9.5% during the second quarter. Sage Mountain Advisors LLC now owns 4,236 shares of the home improvement retailer’s stock worth $934,000 after buying an additional 366 shares in the last quarter. Anfield Capital Management LLC boosted its holdings in Lowe’s Companies by 4,380.0% during the second quarter. Anfield Capital Management LLC now owns 224 shares of the home improvement retailer’s stock worth $49,000 after buying an additional 219 shares in the last quarter. Lafayette Investments Inc. boosted its holdings in Lowe’s Companies by 6.9% during the second quarter. Lafayette Investments Inc. now owns 47,487 shares of the home improvement retailer’s stock worth $10,469,000 after buying an additional 3,060 shares in the last quarter. J. W. Coons Advisors LLC boosted its holdings in Lowe’s Companies by 6.3% during the second quarter. J. W. Coons Advisors LLC now owns 8,716 shares of the home improvement retailer’s stock worth $1,922,000 after buying an additional 520 shares in the last quarter. Finally, NBT Bank N A NY boosted its holdings in Lowe’s Companies by 35.2% during the second quarter. NBT Bank N A NY now owns 103,249 shares of the home improvement retailer’s stock worth $22,760,000 after buying an additional 26,879 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Gordon Haskett cut their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. DA Davidson cut their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Wells Fargo & Company cut their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Finally, Truist Financial lifted their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Price Performance

LOW stock traded up $1.73 on Friday, hitting $248.50. 2,587,136 shares of the company were exchanged, compared to its average volume of 2,428,352. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The business’s fifty day moving average is $234.08 and its two-hundred day moving average is $233.50. The stock has a market capitalization of $141.61 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm earned $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.85%. Lowe’s Companies’s payout ratio is currently 36.95%.

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.