Strategic Global Advisors LLC Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Strategic Global Advisors LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 40.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,647 shares of the home improvement retailer’s stock after selling 4,484 shares during the period. Strategic Global Advisors LLC’s holdings in Lowe’s Companies were worth $1,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $1,638,746,000. Ontario Teachers Pension Plan Board grew its stake in shares of Lowe’s Companies by 187,225.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after buying an additional 2,110,032 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at about $430,090,000. Schroder Investment Management Group grew its stake in shares of Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after buying an additional 1,831,727 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of Lowe’s Companies during the fourth quarter valued at about $206,912,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Stifel Nicolaus raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Mizuho assumed coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $251.33.

Check Out Our Latest Analysis on LOW

Lowe’s Companies Stock Performance

LOW stock opened at $218.16 on Tuesday. The firm has a 50 day moving average price of $228.59 and a 200-day moving average price of $226.61. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market capitalization of $124.32 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.66 and a beta of 1.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the business earned $3.67 earnings per share. The business’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. Lowe’s Companies’s payout ratio is currently 35.34%.

About Lowe’s Companies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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