DekaBank Deutsche Girozentrale Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

DekaBank Deutsche Girozentrale cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,252 shares of the home improvement retailer’s stock after selling 10,616 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Lowe’s Companies were worth $52,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 0.4 %

LOW stock traded down $0.94 during mid-day trading on Friday, hitting $240.42. The company had a trading volume of 2,258,921 shares, compared to its average volume of 2,483,161. The company has a market capitalization of $137.00 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company has a 50-day moving average price of $225.93 and a 200 day moving average price of $230.17.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.67 EPS. As a group, analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Evercore ISI cut their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Finally, Truist Financial dropped their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $250.04.

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.