Berkshire Asset Management LLC PA Increases Stock Position in Lowe’s Companies, Inc. $LOW

Berkshire Asset Management LLC PA raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,120 shares of the home improvement retailer’s stock after buying an additional 3,357 shares during the quarter. Lowe’s Companies comprises approximately 1.6% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 28th biggest position. Berkshire Asset Management LLC PA’s holdings in Lowe’s Companies were worth $34,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter worth about $32,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $36,000. Inlight Wealth Management LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter worth about $36,000. Finally, IFS Advisors LLC raised its position in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Royal Bank Of Canada lowered their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday, May 22nd. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Mizuho reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Lowe’s Companies in a research report on Friday, June 13th. Finally, Citigroup lowered their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.68.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 0.5%

Shares of NYSE:LOW opened at $250.86 on Tuesday. The stock has a 50 day moving average of $227.16 and a 200 day moving average of $229.98. The company has a market cap of $140.59 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.38 and a beta of 0.89. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 EPS. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is presently 39.77%.

Lowe’s Companies Company 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.