Lokken Investment Group LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Lokken Investment Group LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,568 shares of the home improvement retailer’s stock after purchasing an additional 526 shares during the quarter. Lokken Investment Group LLC’s holdings in Lowe’s Companies were worth $1,448,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in Lowe’s Companies in the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth about $31,000. Stephens Consulting LLC grew its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $256.76 on Wednesday. The firm has a 50 day simple moving average of $241.71 and a 200-day simple moving average of $234.94. The stock has a market cap of $146.31 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.03 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 announced 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 in the previous year, the company posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.93 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 given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.79%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the subject of a number of recent research reports. UBS Group increased their price objective 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. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Piper Sandler cut their price objective on shares of 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, August 20th. Finally, Evercore ISI raised 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 research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to 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.