US Asset Management LLC Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

US Asset Management LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,216 shares of the home improvement retailer’s stock after selling 63 shares during the period. US Asset Management LLC’s holdings in Lowe’s Companies were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. 9258 Wealth Management LLC grew its stake in Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 474 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Lowe’s Companies by 10.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock worth $315,000 after buying an additional 138 shares in the last quarter. Navellier & Associates Inc. increased its stake in shares of Lowe’s Companies by 41.0% during the fourth quarter. Navellier & Associates Inc. now owns 6,911 shares of the home improvement retailer’s stock valued at $1,538,000 after buying an additional 2,011 shares during the period. Private Wealth Management Group LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $63,000. Finally, Financial Advocates Investment Management lifted its stake in Lowe’s Companies by 3.4% in the fourth quarter. Financial Advocates Investment Management now owns 3,949 shares of the home improvement retailer’s stock worth $879,000 after acquiring an additional 129 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.3 %

NYSE:LOW opened at $255.41 on Friday. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock’s fifty day moving average is $240.11 and its two-hundred day moving average is $234.78. The stock has a market capitalization of $144.89 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 EPS. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

LOW has been the subject of several research reports. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America dropped their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Gordon Haskett reduced their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on 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. Finally, DA Davidson cut their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies 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.