Smith Salley Wealth Management Has $33.44 Million Position in Lowe’s Companies, Inc. $LOW

Smith Salley Wealth Management raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,055 shares of the home improvement retailer’s stock after buying an additional 3,578 shares during the quarter. Lowe’s Companies accounts for about 1.7% of Smith Salley Wealth Management’s holdings, making the stock its 13th biggest position. Smith Salley Wealth Management’s holdings in Lowe’s Companies were worth $33,438,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Howard Hughes Medical Institute acquired a new position in shares of Lowe’s Companies in the second quarter worth $27,000. Solstein Capital LLC increased its position in Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the last quarter. Traub Capital Management LLC acquired a new position in Lowe’s Companies in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Lowe’s Companies by 128.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $243.12 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $274.98. The company has a market cap of $136.38 billion, a P/E ratio of 20.16, a P/E/G ratio of 4.04 and a beta of 0.96. The stock’s 50-day moving average is $239.85 and its 200-day moving average is $240.95.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. During the same quarter last year, the firm posted $2.89 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LOW shares. Jefferies Financial Group increased their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Stifel Nicolaus boosted their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, December 1st. Telsey Advisory Group cut their price target on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Wells Fargo & Company reduced their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Oppenheimer decreased their price objective on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.80.

Lowe’s Companies Profile

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.