Montag & Caldwell LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Montag & Caldwell LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,657 shares of the home improvement retailer’s stock after selling 25,097 shares during the quarter. Lowe’s Companies accounts for 1.6% of Montag & Caldwell LLC’s holdings, making the stock its 28th biggest position. Montag & Caldwell LLC’s holdings in Lowe’s Companies were worth $9,271,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth about $25,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $26,000. VisionPoint Advisory Group LLC lifted its holdings in Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Lowe’s Companies during the 3rd quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $47,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LOW shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Royal Bank of Canada raised their target price 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. JPMorgan Chase & Co. raised their price target on Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. Finally, Piper Sandler lifted their price target on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Trading Up 0.4 %

Shares of Lowe’s Companies stock traded up $0.97 during trading hours on Monday, reaching $230.84. The stock had a trading volume of 431,421 shares, compared to its average volume of 2,481,393. The stock’s 50 day moving average is $239.98 and its 200 day moving average is $219.94. The firm has a market capitalization of $132.08 billion, a PE ratio of 17.47, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter in the prior year, the company earned $2.28 EPS. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business 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 $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 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.