Cary Street Partners Investment Advisory LLC Trims Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Cary Street Partners Investment Advisory LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 84.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,914 shares of the home improvement retailer’s stock after selling 37,618 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Lowe’s Companies were worth $1,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter worth $25,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC increased its position in shares of Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Lowe’s Companies in the third quarter valued at approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at approximately $47,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target 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. Barclays raised their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a report on Thursday, January 4th. Morgan Stanley upped their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Oppenheimer reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Monday, March 4th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Price Performance

LOW stock traded down $2.10 during trading on Tuesday, reaching $228.84. The company had a trading volume of 648,933 shares, compared to its average volume of 2,472,731. The business has a 50 day moving average of $240.06 and a 200 day moving average of $220.18. The company has a market cap of $130.94 billion, a P/E ratio of 17.55, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

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 for the quarter, topping the consensus estimate 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 company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. Research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.92%. Lowe’s Companies’s payout ratio is presently 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.