VeraBank N.A. Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

VeraBank N.A. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,724 shares of the home improvement retailer’s stock after selling 125 shares during the period. Lowe’s Companies makes up 1.2% of VeraBank N.A.’s investment portfolio, making the stock its 19th largest holding. VeraBank N.A.’s holdings in Lowe’s Companies were worth $3,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Lowe’s Companies during the 4th quarter worth $1,638,746,000. International Assets Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $430,090,000. Canoe Financial LP purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $206,912,000. Pathstone Holdings LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $126,615,000. Finally, Corient Private Wealth LLC boosted its holdings in shares of Lowe’s Companies by 126.3% in the fourth quarter. Corient Private Wealth LLC now owns 865,867 shares of the home improvement retailer’s stock valued at $192,699,000 after acquiring an additional 483,216 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 2.0 %

LOW traded up $4.41 on Wednesday, reaching $220.74. The company had a trading volume of 1,985,023 shares, compared to its average volume of 2,537,262. The company has a fifty day moving average of $222.93 and a 200-day moving average of $227.96. The company has a market capitalization of $125.79 billion, a P/E ratio of 17.73, a PEG ratio of 1.66 and a beta of 1.08. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $3.67 EPS. Lowe’s Companies’s revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LOW. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Mizuho initiated coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Citigroup cut their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $250.41.

Check Out Our Latest Report on Lowe’s Companies

Lowe’s Companies Company Profile

(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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