Wedge Capital Management L L P NC Sells 11,235 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Wedge Capital Management L L P NC reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 35.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,180 shares of the home improvement retailer’s stock after selling 11,235 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lowe’s Companies were worth $4,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $25,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter worth about $28,000. Keener Financial Planning LLC acquired a new position in Lowe’s Companies in the 1st quarter worth about $35,000. Finally, Transcendent Capital Group LLC acquired a new position in Lowe’s Companies in the 4th quarter worth about $31,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. 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 research report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Evercore ISI lowered their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.19.

Lowe’s Companies Stock Up 1.0 %

Shares of LOW stock traded up $2.42 during mid-day trading on Thursday, hitting $240.06. 1,961,266 shares of the stock were exchanged, compared to its average volume of 2,534,666. The firm has a fifty day moving average of $229.40 and a 200 day moving average of $231.42. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company has a market cap of $136.79 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 EPS. Equities analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s payout ratio is currently 36.95%.

Lowe’s Companies Company Profile

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.