Main Street Financial Solutions LLC Buys Shares of 4,309 Lowe’s Companies, Inc. $LOW

Main Street Financial Solutions LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, HoldingsChannel reports. The fund bought 4,309 shares of the home improvement retailer’s stock, valued at approximately $950,000.

A number of other institutional investors have also made changes to their positions in LOW. Swiss RE Ltd. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $25,000. Wilkerson Advisory Group LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $27,000. Sankala Group LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at approximately $33,000. Triumph Capital Management acquired a new stake in Lowe’s Companies in the 3rd quarter valued at approximately $34,000. Finally, Ares Financial Consulting LLC purchased a new stake in Lowe’s Companies in the fourth quarter valued at approximately $36,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe’s Companies

In related news, EVP Janice Dupre sold 14,150 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the sale, the executive vice president directly owned 39,785 shares in the company, valued at approximately $8,828,291.50. This represents a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juliette Williams Pryor sold 9,330 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the sale, the executive vice president owned 16,142 shares in the company, valued at $3,628,883.02. The trade was a 36.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 25,980 shares of company stock valued at $5,796,937. 0.29% of the stock is currently owned by corporate insiders.

Lowe’s Companies Trading Up 0.1%

Shares of NYSE LOW opened at $215.94 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $199.40 and a 12-month high of $293.06. The stock has a market cap of $121.08 billion, a P/E ratio of 18.25, a PEG ratio of 2.79 and a beta of 0.86. The business’s fifty day simple moving average is $216.12 and its 200-day simple moving average is $233.78.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.06. The company had revenue of $23.08 billion for the quarter, compared to the consensus estimate of $22.98 billion. Lowe’s Companies had a negative return on equity of 67.96% and a net margin of 7.51%.Lowe’s Companies’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.92 EPS. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.43 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd were given a dividend of $1.25 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, July 22nd. Lowe’s Companies’s dividend payout ratio is presently 42.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOW. HSBC cut their price objective on Lowe’s Companies from $260.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, May 21st. Wells Fargo & Company dropped their target price on Lowe’s Companies from $255.00 to $245.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. William Blair initiated coverage on Lowe’s Companies in a research report on Tuesday, May 12th. They issued an “overweight” rating for the company. The Goldman Sachs Group cut their price target on shares of Lowe’s Companies from $300.00 to $293.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Finally, Truist Financial lowered their price objective on shares of Lowe’s Companies from $280.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.63.

Lowe’s Companies News Roundup

Here are the key news stories impacting Lowe’s Companies this week:

• Positive Sentiment: Investors are looking for Lowe’s Pro customer growth, online sales momentum and expansion in home services to support results. The company’s Total Home strategy is also viewed as a longer-term value-creation opportunity. Is Lowe’s a Buy Ahead of Earnings
• Positive Sentiment: Wall Street expects revenue growth to accelerate materially from the prior-year period, while largely steady analyst estimates suggest relatively firm confidence in Lowe’s near-term operating outlook. Analysts maintain a consensus “Moderate Buy” rating. Expected Revenue Acceleration and Steady Forecasts
• Neutral Sentiment: The earnings release is expected to produce a sizable share-price move, with investors focused on comparable-store sales, gross margins, earnings guidance and management’s view of housing-related demand. Expected Earnings Moves for Home Depot and Lowe’s
• Neutral Sentiment: Lowe’s reports alongside other major retailers, including Target and recently Home Depot, giving investors a broader read on U.S. consumer spending and the home-improvement market. Target or Lowe’s Ahead of Earnings
• Negative Sentiment: Weak do-it-yourself demand, cautious consumers and limited housing activity could offset strength in Pro sales, digital channels and services. Higher costs may also pressure margins, making the earnings beat-and-guidance combination especially important. Lowe’s Earnings Preview
• Negative Sentiment: The shares remain well below their 52-week high and below their longer-term moving average, reflecting investor concern that Lowe’s may remain dependent on a delayed housing recovery. Comparisons with Home Depot, which is viewed as having steadier estimates, add competitive pressure. Lowe’s Q2 Earnings Preview

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.