Ignite Planners LLC Sells 343 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Ignite Planners LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,974 shares of the home improvement retailer’s stock after selling 343 shares during the period. Ignite Planners LLC’s holdings in Lowe’s Companies were worth $492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Paragon Private Wealth Management LLC boosted its holdings in Lowe’s Companies by 13.5% in the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock worth $1,086,000 after buying an additional 581 shares during the period. ING Groep NV boosted its holdings in Lowe’s Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after purchasing an additional 106,144 shares during the period. Clifford Swan Investment Counsel LLC boosted its holdings in Lowe’s Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock valued at $47,947,000 after purchasing an additional 541 shares during the period. Brevan Howard Capital Management LP boosted its holdings in Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Lowe’s Companies by 1.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock valued at $10,031,000 after purchasing an additional 540 shares during the period. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on LOW shares. DA Davidson cut their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup lowered their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Gordon Haskett restated a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Stock Down 0.1 %

Shares of Lowe’s Companies stock opened at $228.39 on Tuesday. The firm has a market cap of $130.15 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company’s fifty day simple moving average is $226.11 and its two-hundred day simple moving average is $228.22.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 EPS. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 35.34%.

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.