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

Smith Salley Wealth Management grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,055 shares of the home improvement retailer’s stock after acquiring 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 largest position. Smith Salley Wealth Management’s holdings in Lowe’s Companies were worth $33,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the second quarter worth $27,000. Solstein Capital LLC raised its stake in shares of Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares in the last quarter. Traub Capital Management LLC acquired a new position in shares of Lowe’s Companies in the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its position 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 valued at $30,000 after acquiring 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. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on LOW. Stifel Nicolaus increased their price target 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. Jefferies Financial Group increased their target price on Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Truist Financial set a $269.00 price target on Lowe’s Companies in a research note on Wednesday, December 17th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Mizuho cut their price objective on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $276.80.

Lowe’s Companies Price Performance

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

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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 net margin of 8.05% and a negative return on equity of 55.86%. The firm had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same period last year, the firm earned $2.89 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe’s Companies’s payout ratio is 39.80%.

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.