Broadway Wealth Solutions Inc. Purchases New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Broadway Wealth Solutions Inc. bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, HoldingsChannel reports. The fund bought 1,265 shares of the home improvement retailer’s stock, valued at approximately $312,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. United Bank boosted its stake in Lowe’s Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after acquiring an additional 137 shares during the period. Blueshift Asset Management LLC grew its stake in Lowe’s Companies by 13.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 2,770 shares of the home improvement retailer’s stock worth $750,000 after buying an additional 324 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Lowe’s Companies by 101.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 150,000 shares of the home improvement retailer’s stock worth $40,628,000 after buying an additional 75,500 shares during the period. CreativeOne Wealth LLC lifted its stake in Lowe’s Companies by 18.5% in the third quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock valued at $3,343,000 after buying an additional 1,924 shares during the last quarter. Finally, Fiduciary Trust Co boosted its holdings in shares of Lowe’s Companies by 3.3% during the third quarter. Fiduciary Trust Co now owns 69,961 shares of the home improvement retailer’s stock valued at $18,949,000 after acquiring an additional 2,216 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $232.35 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm’s 50 day simple moving average is $246.24 and its 200-day simple moving average is $257.35. The company has a market cap of $130.05 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Mizuho reduced their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada lowered their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $279.71.

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.