Community Bank N.A. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 63.1% during the second quarter, HoldingsChannel reports. The firm owned 25,715 shares of the home improvement retailer’s stock after purchasing an additional 9,952 shares during the quarter. Community Bank N.A.’s holdings in Lowe’s Companies were worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Cordasco Financial Network acquired a new position in Lowe’s Companies during the first quarter worth $25,000. Benjamin Edwards Inc. grew its holdings in Lowe’s Companies by 43.0% during the first quarter. Benjamin Edwards Inc. now owns 296 shares of the home improvement retailer’s stock worth $25,000 after acquiring an additional 89 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Lowe’s Companies by 146.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 303 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 180 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lowe’s Companies during the second quarter worth $26,000. Finally, PrairieView Partners LLC acquired a new position in Lowe’s Companies during the second quarter worth $26,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on LOW shares. Loop Capital upped their price objective on Lowe’s Companies from $105.00 to $140.00 in a report on Thursday, May 21st. Stifel Nicolaus boosted their target price on Lowe’s Companies from $149.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Piper Sandler boosted their target price on Lowe’s Companies from $154.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Longbow Research boosted their target price on Lowe’s Companies from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Jefferies Financial Group boosted their target price on Lowe’s Companies from $121.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $140.86.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.45. The business had revenue of $19.68 billion during the quarter, compared to analysts’ expectations of $18.33 billion. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. Lowe’s Companies’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 6.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, July 21st. This represents a $2.20 dividend on an annualized basis and a yield of 1.48%. Lowe’s Companies’s payout ratio is 38.46%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
Read More: Economic Bubble
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.