Financial Counselors Inc. Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Financial Counselors Inc. decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,107 shares of the home improvement retailer’s stock after selling 442 shares during the period. Financial Counselors Inc.’s holdings in Lowe’s Companies were worth $6,690,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Lowe’s Companies in the third quarter worth $27,000. Winch Advisory Services LLC raised its stake in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Finally, Millstone Evans Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth $44,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday. Finally, BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Trading Up 0.5 %

Shares of Lowe’s Companies stock opened at $231.91 on Thursday. The firm has a market capitalization of $130.95 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The business’s 50-day moving average price is $246.76 and its 200-day moving average price is $257.53.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

About Lowe’s Companies

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.