D.A. Davidson & CO. Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

D.A. Davidson & CO. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 137,549 shares of the home improvement retailer’s stock after purchasing an additional 1,906 shares during the period. D.A. Davidson & CO.’s holdings in Lowe’s Companies were worth $30,322,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Drive Wealth Management LLC boosted its holdings in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares in the last quarter. Valmark Advisers Inc. boosted its holdings in shares of Lowe’s Companies by 2.0% during the 2nd quarter. Valmark Advisers Inc. now owns 11,376 shares of the home improvement retailer’s stock valued at $2,508,000 after buying an additional 220 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its holdings in shares of Lowe’s Companies by 0.9% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 19,623 shares of the home improvement retailer’s stock valued at $4,326,000 after buying an additional 169 shares in the last quarter. Glassy Mountain Advisors Inc. boosted its holdings in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Glassy Mountain Advisors Inc. now owns 37,030 shares of the home improvement retailer’s stock valued at $8,164,000 after buying an additional 247 shares in the last quarter. Finally, Fairhaven Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 0.3% during the 2nd quarter. Fairhaven Wealth Management LLC now owns 19,649 shares of the home improvement retailer’s stock valued at $4,332,000 after buying an additional 64 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Citigroup lowered their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Piper Sandler lowered their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $254.04.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $1.73 during midday trading on Friday, hitting $248.50. 2,587,136 shares of the company’s stock traded hands, compared to its average volume of 2,428,352. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. 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. The firm has a fifty day moving average of $234.08 and a 200 day moving average of $233.50.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS 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 analyst estimates of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.85%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.