ClariVest Asset Management LLC Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

ClariVest Asset Management LLC trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,172 shares of the home improvement retailer’s stock after selling 3,214 shares during the period. ClariVest Asset Management LLC’s holdings in Lowe’s Companies were worth $12,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Wellington Management Group LLP increased its stake in shares of Lowe’s Companies by 3.2% in the first quarter. Wellington Management Group LLP now owns 6,675,859 shares of the home improvement retailer’s stock worth $1,349,793,000 after purchasing an additional 205,858 shares in the last quarter. Invesco Ltd. lifted its position in Lowe’s Companies by 13.0% during the first quarter. Invesco Ltd. now owns 5,809,836 shares of the home improvement retailer’s stock valued at $1,174,691,000 after purchasing an additional 666,437 shares during the last quarter. Egerton Capital UK LLP lifted its position in Lowe’s Companies by 56.2% during the first quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock valued at $730,100,000 after purchasing an additional 1,299,622 shares during the last quarter. Magellan Asset Management Ltd lifted its position in Lowe’s Companies by 5.9% during the second quarter. Magellan Asset Management Ltd now owns 3,360,638 shares of the home improvement retailer’s stock valued at $587,003,000 after purchasing an additional 185,773 shares during the last quarter. Finally, Swiss National Bank lifted its position in Lowe’s Companies by 10.9% during the first quarter. Swiss National Bank now owns 2,918,239 shares of the home improvement retailer’s stock valued at $590,039,000 after purchasing an additional 286,400 shares during the last quarter. 74.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Lowe’s Companies from $237.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Piper Sandler raised their price target on shares of Lowe’s Companies from $248.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, November 17th. JPMorgan Chase & Co. reduced their price target on shares of Lowe’s Companies from $235.00 to $205.00 in a research note on Friday, November 11th. StockNews.com initiated coverage on shares of Lowe’s Companies in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Wedbush reduced their price target on shares of Lowe’s Companies to $190.00 in a research note on Wednesday, November 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.35.

Lowe’s Companies Trading Down 1.6 %

Shares of NYSE:LOW traded down $3.45 during trading on Thursday, reaching $211.02. The stock had a trading volume of 2,593,950 shares, compared to its average volume of 3,762,648. Lowe’s Companies, Inc. has a one year low of $170.12 and a one year high of $263.31. The company has a market capitalization of $130.98 billion, a P/E ratio of 20.67, a PEG ratio of 1.18 and a beta of 1.15. The firm’s 50-day simple moving average is $194.55 and its 200 day simple moving average is $192.73.

Lowe’s Companies (NYSE:LOWGet Rating) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.18. The company had revenue of $23.48 billion during the quarter, compared to analysts’ expectations of $23.16 billion. Lowe’s Companies had a net margin of 6.97% and a negative return on equity of 103.72%. Lowe’s Companies’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business earned $2.73 EPS. Equities research analysts forecast that Lowe’s Companies, Inc. will post 13.77 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, January 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 41.14%.

Lowe’s Companies Company Profile

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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