SlateStone Wealth LLC Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

SlateStone Wealth LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,673 shares of the home improvement retailer’s stock after purchasing an additional 97 shares during the quarter. SlateStone Wealth LLC’s holdings in Lowe’s Companies were worth $372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the fourth quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies in the third quarter valued at $26,000. VisionPoint Advisory Group LLC raised its position in Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Lowe’s Companies in the third quarter valued at $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LOW shares. Citigroup boosted their price objective on Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, February 21st. Robert W. Baird upgraded Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, February 14th. Gordon Haskett reiterated a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, UBS Group upped their price target on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $3.91 during trading hours on Tuesday, reaching $234.04. 757,874 shares of the company’s stock were exchanged, compared to its average volume of 2,514,549. The company has a market cap of $133.92 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. The company’s 50 day moving average is $239.65 and its two-hundred day moving average is $219.11. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same period last year, the business posted $2.28 EPS. Lowe’s Companies’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

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.