Meridian Wealth Advisors LLC Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Meridian Wealth Advisors LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,476 shares of the home improvement retailer’s stock after purchasing an additional 256 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Clifford Swan Investment Counsel LLC raised its position in Lowe’s Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after buying an additional 541 shares during the last quarter. Harbour Trust & Investment Management Co bought a new position in shares of Lowe’s Companies during the 4th quarter valued at $5,890,000. Syon Capital LLC grew its holdings in shares of Lowe’s Companies by 23.3% in the fourth quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock worth $1,587,000 after acquiring an additional 1,345 shares during the period. Biondo Investment Advisors LLC grew its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after acquiring an additional 620 shares during the period. Finally, Perigon Wealth Management LLC increased its position in Lowe’s Companies by 18.6% during the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after acquiring an additional 584 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.3 %

Shares of Lowe’s Companies stock opened at $232.81 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a 50 day moving average of $240.00 and a 200 day moving average of $221.68. The firm has a market cap of $133.21 billion, a PE ratio of 17.63, a PEG ratio of 1.72 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the prior year, the company earned $2.28 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a $1.10 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.89%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LOW shares. Mizuho initiated coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target for the company. Stifel Nicolaus reduced their target price on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, February 16th. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price objective on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Finally, DA Davidson reiterated a “neutral” rating and set a $270.00 target price on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $252.67.

About Lowe’s Companies

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.