SVB Wealth LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

SVB Wealth LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,188 shares of the home improvement retailer’s stock after purchasing an additional 457 shares during the quarter. SVB Wealth LLC’s holdings in Lowe’s Companies were worth $3,158,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Lowe’s Companies during the third quarter valued at approximately $26,000. VisionPoint Advisory Group LLC raised its holdings in shares of Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new position in shares of Lowe’s Companies in the third quarter valued at $40,000. Finally, True Wealth Design LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on LOW shares. Wedbush increased their price objective on shares of Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. The Goldman Sachs Group boosted their price objective on Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada raised their price objective on Lowe’s Companies from $190.00 to $246.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Finally, StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $228.86 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market capitalization of $130.95 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.69 and a beta of 1.13. The stock has a 50 day moving average price of $239.29 and a 200 day moving average price of $218.38.

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

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.92%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.