MRA Advisory Group Acquires Shares of 2,507 Lowe’s Companies, Inc. (NYSE:LOW)

MRA Advisory Group acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,507 shares of the home improvement retailer’s stock, valued at approximately $553,000.

A number of other hedge funds have also recently modified their holdings of LOW. Norges Bank acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $1,638,746,000. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC raised its position in shares of Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after acquiring an additional 1,199,100 shares during the period. M&G Plc acquired a new position in shares of Lowe’s Companies in the first quarter worth about $217,995,000. Finally, Pathstone Holdings LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth about $126,615,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $243.81 on Friday. The firm has a 50-day simple moving average of $236.53 and a two-hundred day simple moving average of $234.15. The stock has a market cap of $138.93 billion, a PE ratio of 19.58, a P/E/G ratio of 2.04 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating 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 firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the firm earned $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.89%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $252.83.

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.