Ironwood Investment Counsel LLC Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Financial News Live · Feb 6, 2023 22:10

Ironwood Investment Counsel LLC grew its stake in Lowe's Companies, Inc. (NYSE:LOW – Get Rating) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,989 shares of the home improvement retailer's stock after acquiring an additional 1,514 shares during the quarter. Lowe's Companies comprises approximately 1.0% of Ironwood Investment Counsel LLC's investment portfolio, making the stock its 29th biggest position. Ironwood Investment Counsel LLC's holdings in Lowe's Companies were worth $3,566,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LOW. Goodman Advisory Group LLC purchased a new position in Lowe's Companies during the second quarter worth about $27,000. Northwest Investment Counselors LLC raised its position in shares of Lowe's Companies by 56.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer's stock valued at $27,000 after buying an additional 51 shares during the period. Tsfg LLC lifted its holdings in Lowe's Companies by 67.9% in the third quarter. Tsfg LLC now owns 220 shares of the home improvement retailer's stock valued at $41,000 after acquiring an additional 89 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in Lowe's Companies in the third quarter worth approximately $43,000. Finally, Homestead Advisers Corp increased its stake in Lowe's Companies by 25.7% during the second quarter. Homestead Advisers Corp now owns 259 shares of the home improvement retailer's stock worth $45,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 72.62% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LOW shares. Evercore ISI decreased their price target on Lowe's Companies to $225.00 in a research note on Monday, December 12th. Piper Sandler boosted their price target on shares of Lowe's Companies from $248.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, November 17th. Citigroup lowered their price objective on shares of Lowe's Companies from $217.00 to $215.00 in a research report on Monday, October 31st. Cowen began coverage on Lowe's Companies in a research report on Wednesday, October 19th. They issued a "market perform" rating and a $210.00 target price on the stock. Finally, BNP Paribas cut Lowe's Companies from a "neutral" rating to an "underperform" rating and set a $159.00 price target on the stock. in a research note on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.12.

Lowe's Companies Trading Down 2.5 %

Shares of NYSE:LOW opened at $215.97 on Monday. Lowe's Companies, Inc. has a 52 week low of $170.12 and a 52 week high of $238.37. The company's 50 day moving average is $205.76 and its two-hundred day moving average is $200.30. The company has a market cap of $134.05 billion, a PE ratio of 21.15, a P/E/G ratio of 1.17 and a beta of 1.13.

Lowe's Companies (NYSE:LOW – Get Rating) last posted its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. The firm had revenue of $23.48 billion for the quarter, compared to analyst estimates of $23.16 billion. Lowe's Companies had a negative return on equity of 103.72% and a net margin of 6.97%. Lowe's Companies's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.73 earnings per share. As a group, equities research analysts expect that Lowe's Companies, Inc. will post 13.73 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be paid a $1.05 dividend. The ex-dividend date is Tuesday, January 24th. This represents a $4.20 annualized dividend and a yield of 1.94%. Lowe's Companies's dividend payout ratio is currently 41.14%.

Insiders Place Their Bets

In other news, EVP Ross W. Mccanless sold 57,629 shares of the company's stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total value of $12,179,889.15. Following the completion of the transaction, the executive vice president now owns 26,923 shares in the company, valued at approximately $5,690,176.05. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Lowe's Companies Company Profile

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Lowe's Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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