Hartline Investment Corp Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hartline Investment Corp lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,624 shares of the home improvement retailer’s stock after selling 689 shares during the period. Lowe’s Companies makes up approximately 1.2% of Hartline Investment Corp’s portfolio, making the stock its 17th largest position. Hartline Investment Corp’s holdings in Lowe’s Companies were worth $7,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in Lowe’s Companies by 1.1% in the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after buying an additional 116,855 shares during the period. Northern Trust Corp boosted its position in Lowe’s Companies by 1.1% in the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after buying an additional 78,901 shares during the period. Schroder Investment Management Group boosted its position in Lowe’s Companies by 189.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after buying an additional 1,831,727 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Lowe’s Companies by 187,225.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after buying an additional 2,110,032 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at approximately $430,090,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LOW shares. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Mizuho started coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Finally, Piper Sandler lifted their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Trading Down 1.4 %

Shares of Lowe’s Companies stock traded down $3.27 on Wednesday, reaching $230.29. 1,484,351 shares of the stock were exchanged, compared to its average volume of 2,520,125. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business has a fifty day moving average price of $239.82 and a two-hundred day moving average price of $219.35. The firm has a market capitalization of $131.77 billion, a PE ratio of 17.76, a PEG ratio of 1.71 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. Research analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

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.