Asset Dedication LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Asset Dedication LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,116 shares of the home improvement retailer’s stock after selling 67 shares during the quarter. Asset Dedication LLC’s holdings in Lowe’s Companies were worth $3,333,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in Lowe’s Companies during the fourth quarter valued at about $1,638,746,000. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the last quarter. M&G Plc bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at about $217,995,000. Finally, Pathstone Holdings LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $126,615,000. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. Bank of America decreased their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Evercore ISI increased their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Truist Financial boosted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Trading Down 0.1 %

Shares of LOW stock opened at $243.81 on Friday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The business’s 50 day moving average is $236.53 and its two-hundred day moving average is $234.15. The company has a market capitalization of $138.93 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.04 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.56 EPS. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Lowe’s Companies 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.