Strategic Wealth Partners Ltd. Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Strategic Wealth Partners Ltd. cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 28.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,534 shares of the home improvement retailer’s stock after selling 1,002 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Lowe’s Companies were worth $640,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV raised its position in Lowe’s Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after acquiring an additional 501 shares during the period. Aptus Capital Advisors LLC raised its position in Lowe’s Companies by 14.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock worth $26,236,000 after acquiring an additional 13,092 shares during the period. World Investment Advisors raised its position in Lowe’s Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock worth $6,498,000 after acquiring an additional 2,615 shares during the period. Great Lakes Advisors LLC raised its position in shares of Lowe’s Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock valued at $116,696,000 after buying an additional 7,187 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after buying an additional 993,833 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

NYSE LOW opened at $234.20 on Monday. The firm has a 50 day simple moving average of $224.34 and a 200-day simple moving average of $245.71. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market cap of $131.09 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a $1.15 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LOW shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 15th. Piper Sandler reduced their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Morgan Stanley cut their price objective on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Finally, Citigroup restated a “neutral” rating and set a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.00.

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.