Van ECK Associates Corp Sells 500 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Van ECK Associates Corp decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,871 shares of the home improvement retailer’s stock after selling 500 shares during the quarter. Van ECK Associates Corp’s holdings in Lowe’s Companies were worth $17,775,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter worth about $25,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the 3rd quarter worth approximately $26,000. VisionPoint Advisory Group LLC boosted its stake in Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Lowe’s Companies during the 3rd quarter valued at approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $47,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $227.44 on Thursday. The firm’s 50 day simple moving average is $240.10 and its 200-day simple moving average is $220.45. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The firm has a market cap of $130.14 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 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 the consensus estimate of $18.47 billion. During the same period last year, the business posted $2.28 EPS. Lowe’s Companies’s quarterly revenue was down 17.1% on a year-over-year basis. Equities research analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Analyst Ratings Changes

LOW has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Wedbush raised their price objective on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Robert W. Baird raised Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 target price on the stock in a report on Wednesday, February 14th. Piper Sandler increased their price target 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, JPMorgan Chase & Co. lifted their price objective on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $252.52.

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.