Lowe’s Companies, Inc. (NYSE:LOW) Stake Boosted by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 134.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,483 shares of the home improvement retailer’s stock after purchasing an additional 4,860 shares during the period. Belpointe Asset Management LLC’s holdings in Lowe’s Companies were worth $2,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Invst LLC bought a new stake in Lowe’s Companies in the 3rd quarter valued at about $255,000. Virtu Financial LLC raised its holdings in shares of Lowe’s Companies by 66.1% during the third quarter. Virtu Financial LLC now owns 5,474 shares of the home improvement retailer’s stock valued at $1,483,000 after buying an additional 2,178 shares during the last quarter. Tudor Financial Inc. bought a new position in Lowe’s Companies in the 3rd quarter worth approximately $1,877,000. Anchor Investment Management LLC raised its stake in Lowe’s Companies by 2.6% during the 3rd quarter. Anchor Investment Management LLC now owns 45,537 shares of the home improvement retailer’s stock valued at $12,334,000 after acquiring an additional 1,161 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in Lowe’s Companies by 7.6% during the 3rd quarter. World Investment Advisors LLC now owns 23,714 shares of the home improvement retailer’s stock worth $6,423,000 after acquiring an additional 1,670 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $224.25 on Tuesday. The business’s 50-day moving average is $235.57 and its 200-day moving average is $253.99. The company has a market capitalization of $125.51 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

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

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America lowered their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Mizuho decreased their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Truist Financial cut their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.74.

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.