Annex Advisory Services LLC Grows Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Annex Advisory Services LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,528 shares of the home improvement retailer’s stock after purchasing an additional 129 shares during the quarter. Annex Advisory Services LLC’s holdings in Lowe’s Companies were worth $337,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $28,000. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $35,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $31,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW traded down $0.50 during midday trading on Friday, hitting $235.83. The stock had a trading volume of 1,675,460 shares, compared to its average volume of 2,531,770. The company has a 50 day simple moving average of $227.92 and a two-hundred day simple moving average of $230.87. The firm has a market cap of $134.38 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

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

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOW. Stifel Nicolaus increased their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Citigroup lowered their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. DA Davidson lowered their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Finally, Truist Financial lowered their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.19.

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.