DORCHESTER WEALTH MANAGEMENT Co Trims Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)


Share on StockTwits

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,125 shares of the home improvement retailer’s stock after selling 1,000 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Lowe’s Companies were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth $1,285,445,000. FMR LLC raised its holdings in Lowe’s Companies by 10.7% during the fourth quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock valued at $4,871,866,000 after buying an additional 2,940,777 shares in the last quarter. Maj Invest Holding A S raised its holdings in Lowe’s Companies by 106.9% during the fourth quarter. Maj Invest Holding A S now owns 1,934,106 shares of the home improvement retailer’s stock valued at $310,443,000 after buying an additional 999,428 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Lowe’s Companies by 17.8% during the fourth quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock valued at $1,043,751,000 after buying an additional 982,465 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Lowe’s Companies by 15.6% during the fourth quarter. Morgan Stanley now owns 5,819,866 shares of the home improvement retailer’s stock valued at $934,149,000 after buying an additional 783,731 shares in the last quarter. 76.11% of the stock is owned by hedge funds and other institutional investors.

NYSE LOW traded down $2.90 on Thursday, reaching $201.01. 150,208 shares of the stock were exchanged, compared to its average volume of 4,040,407. Lowe’s Companies, Inc. has a one year low of $93.16 and a one year high of $208.98. The firm has a market capitalization of $144.16 billion, a PE ratio of 28.84, a PEG ratio of 1.18 and a beta of 1.37. The company’s 50-day simple moving average is $184.35 and its two-hundred day simple moving average is $170.06. The company has a current ratio of 1.38, a quick ratio of 0.57 and a debt-to-equity ratio of 5.20.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. Lowe’s Companies had a net margin of 6.29% and a return on equity of 211.33%. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.54 billion. During the same quarter last year, the business earned $0.94 EPS. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 8.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Wednesday, April 21st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, April 20th. Lowe’s Companies’s payout ratio is currently 41.96%.

Several brokerages have recently issued reports on LOW. Atlantic Securities raised Lowe’s Companies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Tuesday. Wells Fargo & Company lifted their target price on Lowe’s Companies from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Lowe’s Companies in a research note on Monday, March 15th. They set a “buy” rating and a $195.00 price target for the company. Loop Capital raised their price target on shares of Lowe’s Companies from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their target price on shares of Lowe’s Companies from $203.00 to $206.00 in a research note on Thursday, February 25th. Six analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $182.29.

In other Lowe’s Companies news, Director David H. Batchelder bought 6,250 shares of the firm’s stock in a transaction dated Friday, February 26th. The stock was acquired at an average cost of $159.48 per share, for a total transaction of $996,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

Featured Story: What is a dividend reinvestment plan?

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.