SteelPeak Wealth LLC Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

SteelPeak Wealth LLC cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% in the 1st quarter, HoldingsChannel reports. The fund owned 9,030 shares of the home improvement retailer’s stock after selling 478 shares during the quarter. SteelPeak Wealth LLC’s holdings in Lowe’s Companies were worth $2,300,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LOW. Paragon Private Wealth Management LLC lifted 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 lifted its stake in shares of 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 lifted its stake in shares of 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 lifted its stake in shares of 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 lifted its stake in shares of 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 currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.3 %

Shares of LOW stock opened at $220.46 on Monday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The stock’s 50-day moving average price is $225.32 and its 200-day moving average price is $228.49. The stock has a market capitalization of $125.63 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) 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 firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, research analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research analyst reports. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Stifel Nicolaus raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Evercore ISI reduced their price objective on Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a research report on Wednesday, May 22nd. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Citigroup reduced their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies Company 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.