Harbor Advisory Corp MA Sells 1,378 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Harbor Advisory Corp MA lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,644 shares of the home improvement retailer’s stock after selling 1,378 shares during the period. Harbor Advisory Corp MA’s holdings in Lowe’s Companies were worth $1,924,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LOW. Harbour Trust & Investment Management Co bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $5,890,000. Syon Capital LLC increased its position in Lowe’s Companies by 23.3% during the 4th quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock valued at $1,587,000 after purchasing an additional 1,345 shares during the period. Biondo Investment Advisors LLC raised its stake in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after acquiring an additional 620 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of 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 valued at $829,000 after acquiring an additional 584 shares during the last quarter. Finally, Legacy CG LLC boosted its holdings in Lowe’s Companies by 25.0% during the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock worth $5,107,000 after buying an additional 4,583 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 have weighed in on the stock. Evercore ISI lowered their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Piper Sandler increased their target price on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Gordon Haskett restated a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $1.23 during trading on Monday, hitting $231.10. 406,437 shares of the company were exchanged, compared to its average volume of 2,481,393. The firm has a market capitalization of $132.23 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. The firm’s fifty day moving average price is $239.98 and its 200 day moving average price is $219.94. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

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

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.90%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

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.