Verdence Capital Advisors LLC Has $1.69 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Verdence Capital Advisors LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,610 shares of the home improvement retailer’s stock after acquiring an additional 741 shares during the period. Verdence Capital Advisors LLC’s holdings in Lowe’s Companies were worth $1,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LOW. Harbour Trust & Investment Management Co bought a new stake in Lowe’s Companies in the 4th quarter worth about $5,890,000. Meridian Wealth Management LLC grew its position in Lowe’s Companies by 100.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer’s stock worth $6,492,000 after purchasing an additional 15,612 shares in the last quarter. Biondo Investment Advisors LLC grew its position in Lowe’s Companies by 1.0% in the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after purchasing an additional 620 shares in the last quarter. Perigon Wealth Management LLC grew its position in Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after purchasing an additional 584 shares in the last quarter. Finally, Legacy CG LLC grew its position in Lowe’s Companies by 25.0% in the 4th quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock worth $5,107,000 after purchasing an additional 4,583 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LOW. Wells Fargo & Company upped their price objective on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. DA Davidson reissued a “neutral” rating and set a $270.00 target price on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Barclays increased their target price on shares of Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Zelman & Associates reissued a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $252.52.

View Our Latest Stock Analysis on Lowe’s Companies

Lowe’s Companies Stock Up 0.6 %

Lowe’s Companies stock traded up $1.45 during mid-day trading on Friday, reaching $230.24. 2,112,314 shares of the company’s stock traded hands, compared to its average volume of 2,254,721. The company has a market cap of $131.74 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.70 and a beta of 1.13. The stock has a 50 day moving average of $239.62 and a two-hundred day moving average of $218.76. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. Lowe’s Companies’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.28 earnings per share. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Lowe’s Companies Company 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.

See Also

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

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