MONECO Advisors LLC Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

MONECO Advisors LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% in the second quarter, Holdings Channel reports. The institutional investor owned 3,191 shares of the home improvement retailer’s stock after selling 74 shares during the period. MONECO Advisors LLC’s holdings in Lowe’s Companies were worth $703,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LOW. International Assets Investment Management LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth $24,091,000. Western Wealth Management LLC increased its position in shares of Lowe’s Companies by 9.2% during the fourth quarter. Western Wealth Management LLC now owns 7,775 shares of the home improvement retailer’s stock worth $1,730,000 after purchasing an additional 652 shares in the last quarter. Fidelis Capital Partners LLC increased its position in shares of Lowe’s Companies by 6.5% during the fourth quarter. Fidelis Capital Partners LLC now owns 3,918 shares of the home improvement retailer’s stock worth $872,000 after purchasing an additional 238 shares in the last quarter. HTLF Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter worth $5,748,000. Finally, Davidson Trust Co. increased its position in shares of Lowe’s Companies by 5.8% during the fourth quarter. Davidson Trust Co. now owns 2,717 shares of the home improvement retailer’s stock worth $605,000 after purchasing an additional 148 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOW. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 14th. Truist Financial cut their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. increased their price target on Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI cut their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $250.19.

Lowe’s Companies Trading Up 0.6 %

LOW stock traded up $1.42 during mid-day trading on Monday, reaching $242.57. The company’s stock had a trading volume of 465,557 shares, compared to its average volume of 2,516,568. The stock has a market cap of $138.22 billion, a PE ratio of 19.48, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company’s 50 day moving average is $229.89 and its two-hundred day moving average is $231.88.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 EPS. On average, analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

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.