Spire Wealth Management Raises Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Spire Wealth Management lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,205 shares of the home improvement retailer’s stock after buying an additional 853 shares during the period. Spire Wealth Management’s holdings in Lowe’s Companies were worth $2,465,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board lifted its position in Lowe’s Companies by 187,225.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after purchasing an additional 2,110,032 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $430,090,000. Schroder Investment Management Group boosted its stake in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after buying an additional 1,831,727 shares in the last quarter. Aristotle Capital Management LLC grew its holdings in Lowe’s Companies by 143.8% during the third quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock worth $283,019,000 after acquiring an additional 803,216 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in Lowe’s Companies in the third quarter worth $144,530,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LOW. JPMorgan Chase & Co. upped their price target on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. 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 Wednesday, March 27th. Citigroup boosted their price target on Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Truist Financial raised their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, UBS Group boosted their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Stock Up 0.9 %

Shares of NYSE LOW traded up $2.04 during midday trading on Tuesday, hitting $233.74. The stock had a trading volume of 113,324 shares, compared to its average volume of 2,433,116. The company has a fifty day moving average price of $240.08 and a 200 day moving average price of $221.40. The company has a market capitalization of $133.74 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.72 and a beta of 1.15. 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 released its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.88%. Lowe’s Companies’s payout ratio is currently 33.43%.

Lowe’s Companies 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.