Pittenger & Anderson Inc. Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Pittenger & Anderson Inc. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the fourth quarter, Holdings Channel reports. The firm owned 78,364 shares of the home improvement retailer’s stock after selling 256 shares during the period. Pittenger & Anderson Inc.’s holdings in Lowe’s Companies were worth $17,440,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Harbour Trust & Investment Management Co bought a new position in Lowe’s Companies in the fourth quarter worth approximately $5,890,000. Biondo Investment Advisors LLC raised its stake in Lowe’s Companies by 1.0% in the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after buying an additional 620 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Lowe’s Companies by 18.6% in the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after buying an additional 584 shares in the last quarter. Legacy CG LLC raised its stake in Lowe’s Companies by 25.0% in the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock worth $5,107,000 after buying an additional 4,583 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Lowe’s Companies in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.14 during mid-day trading on Friday, hitting $231.10. The company’s stock had a trading volume of 826,602 shares, compared to its average volume of 2,492,261. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a market cap of $132.23 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.70 and a beta of 1.13. The business’s fifty day moving average is $239.92 and its two-hundred day moving average is $219.50.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. Analysts anticipate that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 33.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. The Goldman Sachs Group upped their price target on Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Piper Sandler upped their price target on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Morgan Stanley upped their price target on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $252.52.

About Lowe’s Companies

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.