Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 94.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,479 shares of the home improvement retailer’s stock after selling 26,376 shares during the quarter. Qsemble Capital Management LP’s holdings in Lowe’s Companies were worth $377,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. raised its position in Lowe’s Companies by 1.6% during the first quarter. QRG Capital Management Inc. now owns 129,835 shares of the home improvement retailer’s stock valued at $33,073,000 after buying an additional 2,033 shares during the period. Semus Wealth Partners LLC acquired a new position in Lowe’s Companies during the first quarter valued at $204,000. Verus Capital Partners LLC acquired a new position in Lowe’s Companies during the first quarter valued at $205,000. Meeder Advisory Services Inc. raised its position in Lowe’s Companies by 3.5% during the first quarter. Meeder Advisory Services Inc. now owns 10,369 shares of the home improvement retailer’s stock valued at $2,641,000 after buying an additional 348 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Lowe’s Companies by 122.1% during the first quarter. Meeder Asset Management Inc. now owns 8,628 shares of the home improvement retailer’s stock valued at $2,198,000 after buying an additional 4,743 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial dropped their price target 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. 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. Stifel Nicolaus boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Gordon Haskett restated a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Finally, DA Davidson lowered 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. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $250.04.

Lowe’s Companies Stock Up 3.8 %

Lowe’s Companies stock traded up $8.80 during trading hours on Tuesday, hitting $240.97. The stock had a trading volume of 2,356,052 shares, compared to its average volume of 2,540,746. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company has a 50-day moving average of $222.98 and a two-hundred day moving average of $228.18. The company has a market cap of $137.31 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.79 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (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 business had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the firm posted $3.67 EPS. Lowe’s Companies’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a $0.15 dividend. 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 0.25%. Lowe’s Companies’s payout ratio 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.