Waycross Partners LLC Invests $12.95 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Waycross Partners LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,742 shares of the home improvement retailer’s stock, valued at approximately $12,950,000. Lowe’s Companies accounts for 2.0% of Waycross Partners LLC’s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. Vanguard Group Inc. grew its position in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC boosted its stake in Lowe’s Companies by 20,275.6% during the 2nd 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 last quarter. M&G Plc acquired a new position in Lowe’s Companies during the first quarter valued at approximately $217,995,000. Pathstone Holdings LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $126,615,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Up 1.3 %

Shares of NYSE LOW opened at $255.41 on Monday. The firm has a market cap of $144.89 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business’s 50 day moving average is $240.11 and its 200-day moving average is $234.75. 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 quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.56 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, October 23rd. 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%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LOW. DA Davidson dropped their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. UBS Group raised their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler decreased their price objective 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. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $252.83.

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.