LOW - Lowe's: Buy This Great Dividend Grower On The Next Pullback

2024-04-02 07:30:00 ET

Summary

• Lowe's dividend growth streak positions it among the best of the best dividend growth stocks.
• The home improvement retailer topped analysts' expectations for net sales and diluted EPS in its fiscal Q4.
• Lowe's debt load is manageable enough to earn a BBB+ credit rating from S&P on a stable outlook.
• The home improvement retailer's shares are trading around fair value.
• Lowe's could still deliver solid returns moving forward, but I'd prefer a bigger margin of safety before adding to my position.

To anybody who has read my articles on Seeking Alpha, it's no secret that dividend growth investing is my preferred investing strategy. Rather than reiterate why I subscribe to this investment philosophy, I'll link to this week's article on Paycom ( PAYC ) article for a more in-depth explanation.

The long and short of it is that I cut through the market noise and remain laser-focused on the fundamentals of my investments. As a class, data from Hartford Funds shows that dividend initiators and growers have also outperformed all other classes by dividend policy for the last half-century....

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