Norden Group LLC Sells 559 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Norden Group LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,100 shares of the home improvement retailer’s stock after selling 559 shares during the quarter. Norden Group LLC’s holdings in Lowe’s Companies were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Brookstone Capital Management raised its position in shares of Lowe’s Companies by 1.9% during the 3rd quarter. Brookstone Capital Management now owns 27,109 shares of the home improvement retailer’s stock valued at $5,163,000 after buying an additional 503 shares in the last quarter. ST Germain D J Co. Inc. raised its position in Lowe’s Companies by 44.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 4,316 shares of the home improvement retailer’s stock worth $897,000 after purchasing an additional 1,319 shares during the period. Callahan Advisors LLC lifted its stake in shares of Lowe’s Companies by 7.3% in the 3rd quarter. Callahan Advisors LLC now owns 79,322 shares of the home improvement retailer’s stock valued at $16,486,000 after acquiring an additional 5,428 shares during the last quarter. Palouse Capital Management Inc. boosted its stake in shares of Lowe’s Companies by 1.9% during the third quarter. Palouse Capital Management Inc. now owns 7,930 shares of the home improvement retailer’s stock valued at $1,648,000 after purchasing an additional 148 shares during the period. Finally, Live Oak Private Wealth LLC grew its holdings in shares of Lowe’s Companies by 1.2% in the third quarter. Live Oak Private Wealth LLC now owns 39,537 shares of the home improvement retailer’s stock worth $8,217,000 after purchasing an additional 466 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Zelman & Associates reissued a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Mizuho assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Citigroup increased their price target on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Finally, Wedbush increased their price objective on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Performance

LOW stock traded down $1.90 during midday trading on Tuesday, reaching $229.04. The stock had a trading volume of 794,896 shares, compared to its average volume of 2,474,430. The firm has a fifty day simple moving average of $240.06 and a two-hundred day simple moving average of $220.18. The stock has a market cap of $131.05 billion, a PE ratio of 17.55, a P/E/G ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the company earned $2.28 EPS. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders 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 dividend yield of 1.92%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 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.