Larson Financial Group LLC Sells 47 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Larson Financial Group LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,182 shares of the home improvement retailer’s stock after selling 47 shares during the period. Larson Financial Group LLC’s holdings in Lowe’s Companies were worth $3,127,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Lowe’s Companies in the fourth quarter valued at about $1,638,746,000. Vanguard Group Inc. raised its stake in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Canoe Financial LP acquired a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $206,912,000. M&G Plc bought a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $217,995,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $126,615,000. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Royal Bank of Canada cut their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Bank of America lowered their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Citigroup reduced their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.04.

Lowe’s Companies Stock Performance

NYSE LOW traded down $0.83 during trading hours on Wednesday, hitting $244.63. 83,538 shares of the company traded hands, compared to its average volume of 2,507,694. The business’s 50-day moving average is $235.04 and its 200-day moving average is $233.82. The stock has a market capitalization of $139.40 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the firm posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 11.94 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.88%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.