OMC Financial Services LTD Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

OMC Financial Services LTD bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,792 shares of the home improvement retailer’s stock, valued at approximately $4,277,000. Lowe’s Companies comprises 2.2% of OMC Financial Services LTD’s investment portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Tidemark LLC purchased a new position in Lowe’s Companies during the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $33,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 0.4 %

Shares of LOW traded down $0.94 on Friday, reaching $240.42. The stock had a trading volume of 2,258,921 shares, compared to its average volume of 2,483,161. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market capitalization of $137.00 billion, a PE ratio of 19.31, a PEG ratio of 1.85 and a beta of 1.07. The firm has a 50-day moving average of $225.93 and a 200 day moving average of $230.17.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the business earned $3.67 earnings per share. Lowe’s Companies’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Truist Financial decreased their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $250.04.

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.