Twin Capital Management Inc. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,994 shares of the home improvement retailer’s stock after selling 450 shares during the period. Twin Capital Management Inc.’s holdings in Lowe’s Companies were worth $605,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $21,314,000. TFG Advisers LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $243,000. Round Table Services LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $202,000. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $124,000. Finally, RFG Advisory LLC lifted its holdings in shares of Lowe’s Companies by 1.7% during the 4th quarter. RFG Advisory LLC now owns 9,038 shares of the home improvement retailer’s stock worth $2,336,000 after acquiring an additional 155 shares during the last quarter. 75.46% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on LOW. Loop Capital lowered their price target on shares of Lowe’s Companies from $240.00 to $190.00 in a research note on Tuesday, April 12th. UBS Group lowered their price target on shares of Lowe’s Companies from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of Lowe’s Companies from $228.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, May 19th. Wedbush lowered their price target on shares of Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Finally, MKM Partners began coverage on shares of Lowe’s Companies in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.58.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.27. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The company had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $23.72 billion. During the same quarter in the previous year, the company earned $3.21 earnings per share. Lowe’s Companies’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts anticipate that Lowe’s Companies, Inc. will post 13.44 earnings per share for the current year.
Lowe’s Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Tuesday, July 19th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio is 34.23%.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.
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