Rehmann Capital Advisory Group lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,667 shares of the home improvement retailer’s stock after selling 172 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Lowe’s Companies were worth $930,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LOW. Standard Family Office LLC bought a new stake in Lowe’s Companies during the 3rd quarter valued at about $26,000. Legend Financial Advisors Inc. bought a new stake in Lowe’s Companies during the 3rd quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at about $28,000. Blume Capital Management Inc. lifted its holdings in Lowe’s Companies by 70.6% during the 3rd quarter. Blume Capital Management Inc. now owns 145 shares of the home improvement retailer’s stock valued at $27,000 after buying an additional 60 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new stake in Lowe’s Companies during the 3rd quarter valued at about $29,000. 72.62% of the stock is currently owned by institutional investors.
Insider Activity at Lowe’s Companies
In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the transaction, the executive vice president now directly owns 17,888 shares of the company’s stock, valued at $3,523,936. The sale was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.
Lowe’s Companies Price Performance
Lowe’s Companies stock opened at $206.65 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $170.12 and a 12-month high of $223.31. The stock has a market capitalization of $123.24 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.19 and a beta of 1.09. The firm’s 50-day moving average is $201.79 and its two-hundred day moving average is $204.21.
Lowe’s Companies (NYSE:LOW – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.07. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company had revenue of $22.40 billion for the quarter, compared to analysts’ expectations of $22.71 billion. During the same period last year, the company earned $1.78 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts forecast that Lowe’s Companies, Inc. will post 13.66 EPS for the current year.
Lowe’s Companies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, April 25th. Lowe’s Companies’s payout ratio is currently 41.96%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. TD Cowen decreased their target price on Lowe’s Companies from $220.00 to $210.00 and set a “market perform” rating for the company in a research report on Thursday, March 2nd. Robert W. Baird reduced their price target on shares of Lowe’s Companies from $235.00 to $225.00 in a report on Friday, May 12th. Oppenheimer reduced their price target on shares of Lowe’s Companies from $300.00 to $275.00 in a report on Tuesday, February 28th. Truist Financial reduced their price target on Lowe’s Companies from $258.00 to $235.00 in a research report on Thursday, March 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $235.00 target price on shares of Lowe’s Companies in a research report on Monday, February 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Hold” and a consensus price target of $222.28.
Lowe’s Companies Profile
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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