Lowe’s Companies, Inc. (NYSE:LOW) Stake Reduced by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,750 shares of the home improvement retailer’s stock after selling 52 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Lowe’s Companies were worth $5,286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Private Management Group Inc. raised its position in Lowe’s Companies by 4.0% in the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after acquiring an additional 46 shares in the last quarter. First Bank & Trust raised its position in Lowe’s Companies by 3.1% in the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after acquiring an additional 46 shares in the last quarter. First Command Advisory Services Inc. raised its holdings in Lowe’s Companies by 1.9% during the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock worth $576,000 after buying an additional 48 shares during the period. Jag Capital Management LLC raised its holdings in Lowe’s Companies by 0.3% during the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock worth $3,510,000 after buying an additional 48 shares during the period. Finally, Hamilton Capital LLC raised its holdings in Lowe’s Companies by 2.1% during the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after buying an additional 49 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Truist Financial cut their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Zelman & Associates restated a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $250.41.

Lowe’s Companies Trading Up 0.3 %

Lowe’s Companies stock traded up $0.58 during trading hours on Wednesday, reaching $214.28. 599,378 shares of the company were exchanged, compared to its average volume of 2,536,408. The firm has a market cap of $122.11 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.69 and a beta of 1.08. The stock has a 50-day moving average of $224.57 and a 200 day moving average of $228.32. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

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.