Lowe’s Companies, Inc. (NYSE: LOW)

Lowe’s Companies, Inc. (NYSE: LOW) offers a wide range of home improvement and repair products, including appliances, tools, and building materials for construction projects. It also offers garden supplies, lawn care products, paint and paint-related services.

In the last few decades, Lowe’s has expanded its business to include stores in Canada and Mexico and online shopping.

Low mortgage rates coupled with a lack of entertainment and leisure activities during social distancing triggered a boom in the housing and home improvement markets in 2020. 

And now home improvement stocks may prove to be resistant to a potential economic recession in 2022 or 2023.

Home improvement is a secular trend that has been growing over the past few years. The industry has seen steady growth in the number of projects undertaken by homeowners, builders, and renovators.

Lowe’s has increased its dividend every year for over 50 years. It has never missed an annual dividend payment or defaulted on its debt.