Matrix Asset Advisors Inc. NY Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Matrix Asset Advisors Inc. NY raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 171.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,070 shares of the home improvement retailer’s stock after acquiring an additional 24,689 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Lowe’s Companies were worth $9,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LOW. Brighton Jones LLC raised its holdings in shares of Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after acquiring an additional 259 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $55,000. Alberta Investment Management Corp raised its holdings in Lowe’s Companies by 24.1% during the 4th quarter. Alberta Investment Management Corp now owns 3,600 shares of the home improvement retailer’s stock valued at $888,000 after buying an additional 700 shares during the period. Finally, Compass Capital Corp MA ADV purchased a new stake in Lowe’s Companies during the 4th quarter valued at $217,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 21st. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Sanford C. Bernstein set a $266.00 price target on Lowe’s Companies and gave the company an “outperform” rating in a report on Thursday, May 22nd. Robert W. Baird decreased their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, Truist Financial set a $264.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Trading Up 0.7%

LOW opened at $212.40 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business’s fifty day simple moving average is $223.03 and its 200-day simple moving average is $237.78. The company has a market capitalization of $119.04 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.01 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

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.