Cullen Investment Group LTD. Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cullen Investment Group LTD. reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,480 shares of the home improvement retailer’s stock after selling 1,965 shares during the period. Lowe’s Companies makes up 1.1% of Cullen Investment Group LTD.’s portfolio, making the stock its 25th biggest holding. Cullen Investment Group LTD.’s holdings in Lowe’s Companies were worth $6,962,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LOW. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $10,371,000. WINTON GROUP Ltd purchased a new position in Lowe’s Companies in the third quarter worth $344,000. Sugarloaf Wealth Management LLC grew its position in Lowe’s Companies by 54.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 1,238 shares of the home improvement retailer’s stock worth $257,000 after acquiring an additional 437 shares in the last quarter. Cambridge Financial Group Inc. purchased a new position in Lowe’s Companies in the third quarter worth $6,305,000. Finally, Peachtree Investment Partners LLC grew its position in Lowe’s Companies by 22.9% in the third quarter. Peachtree Investment Partners LLC now owns 5,264 shares of the home improvement retailer’s stock worth $1,094,000 after acquiring an additional 982 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LOW shares. Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Mizuho started 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. DA Davidson cut their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Finally, StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $251.33.

Check Out Our Latest Research Report on LOW

Lowe’s Companies Trading Up 0.4 %

Shares of NYSE:LOW opened at $227.68 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a market cap of $129.74 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company has a 50-day moving average price of $226.56 and a 200-day moving average price of $227.64.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly 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 net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the firm earned $3.67 earnings per share. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 35.34%.

Lowe’s Companies Profile

(Free Report)

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.

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

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