Envestnet Asset Management Inc. Purchases 90,945 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Envestnet Asset Management Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,617,849 shares of the home improvement retailer’s stock after buying an additional 90,945 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lowe’s Companies were worth $356,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of LOW. Drive Wealth Management LLC grew its position in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares in the last quarter. Crown Wealth Group LLC grew its holdings in Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after buying an additional 44 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 45 shares in the last quarter. BLB&B Advisors LLC raised its position in shares of Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after buying an additional 45 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on LOW shares. Evercore ISI lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Piper Sandler cut their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Morgan Stanley boosted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Trading Up 1.3 %

Shares of LOW opened at $255.41 on Friday. The firm has a fifty day moving average price of $240.11 and a 200-day moving average price of $234.78. The firm has a market capitalization of $144.89 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.56 EPS. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.80%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Lowe’s Companies 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.