VeraBank N.A. Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

VeraBank N.A. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,724 shares of the home improvement retailer’s stock after selling 125 shares during the period. Lowe’s Companies comprises 1.2% of VeraBank N.A.’s holdings, making the stock its 19th largest position. VeraBank N.A.’s holdings in Lowe’s Companies were worth $3,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LOW. Belpointe Asset Management LLC raised its stake in shares of Lowe’s Companies by 34.4% during the 3rd quarter. Belpointe Asset Management LLC now owns 2,995 shares of the home improvement retailer’s stock valued at $623,000 after purchasing an additional 767 shares during the period. Harbour Investments Inc. raised its stake in shares of Lowe’s Companies by 10.6% during the 3rd quarter. Harbour Investments Inc. now owns 7,578 shares of the home improvement retailer’s stock valued at $1,575,000 after purchasing an additional 726 shares during the period. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $26,000. Creative Planning raised its stake in shares of Lowe’s Companies by 8.7% during the 3rd quarter. Creative Planning now owns 183,935 shares of the home improvement retailer’s stock valued at $38,229,000 after purchasing an additional 14,679 shares during the period. Finally, Spartan Planning & Wealth Management bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $181,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LOW shares. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Evercore ISI decreased their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Citigroup decreased their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. DA Davidson decreased their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus upped their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $250.41.

View Our Latest Stock Report on Lowe’s Companies

Lowe’s Companies Stock Performance

LOW stock traded up $4.41 during trading on Wednesday, hitting $220.74. 1,985,023 shares of the company traded hands, compared to its average volume of 2,537,262. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a 50-day moving average of $222.93 and a 200-day moving average of $227.96. The firm has a market capitalization of $125.79 billion, a PE ratio of 17.73, a P/E/G ratio of 1.66 and a beta of 1.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the business posted $3.67 EPS. The business’s revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

Lowe’s Companies Profile

(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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