Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Lowered by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 571,381 shares of the home improvement retailer’s stock after selling 15,719 shares during the quarter. Fisher Asset Management LLC owned 0.10% of Lowe’s Companies worth $127,161,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LOW. Morgan Stanley grew its holdings in shares of Lowe’s Companies by 1.1% in the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after acquiring an additional 116,855 shares during the last quarter. Norges Bank acquired a new stake in Lowe’s Companies during the 4th quarter worth about $1,638,746,000. Northern Trust Corp lifted its stake in Lowe’s Companies by 1.1% during the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after buying an additional 41,451 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after acquiring an additional 52,859 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 1.5 %

LOW stock traded down $3.51 during midday trading on Friday, hitting $223.35. The stock had a trading volume of 1,936,610 shares, compared to its average volume of 2,526,158. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock has a 50-day simple moving average of $227.20 and a 200 day simple moving average of $227.28. The firm has a market capitalization of $127.27 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.71 and a beta of 1.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 EPS. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. UBS Group raised their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Evercore ISI cut their price target on Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a research note on Wednesday, May 22nd. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Finally, Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $251.33.

Get Our Latest Research Report on Lowe’s Companies

About Lowe’s Companies

(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.

Further Reading

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

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