Nixon Peabody Trust Co. Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Nixon Peabody Trust Co. increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 540.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,929 shares of the home improvement retailer’s stock after purchasing an additional 37,910 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Lowe’s Companies were worth $9,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. bought a new position in Lowe’s Companies during the 4th quarter worth approximately $25,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies in the third quarter worth $26,000. Tidemark LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its position in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth $33,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW traded down $2.27 during trading hours on Friday, hitting $215.21. The stock had a trading volume of 2,546,526 shares, compared to its average volume of 2,449,282. The firm has a market capitalization of $123.14 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.71 and a beta of 1.15. The firm has a 50-day moving average price of $237.03 and a 200 day moving average price of $224.66. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the business posted $3.67 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 12.22 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 35.34%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of analyst reports. 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 report on Tuesday, February 13th. Gordon Haskett reissued a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. UBS Group raised their price target on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley boosted their price objective 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.33.

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.