Mn Services Vermogensbeheer B.V. Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,345 shares of the home improvement retailer’s stock after selling 5,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Lowe’s Companies were worth $50,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. Pure Financial Advisors LLC lifted its holdings in shares of Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after acquiring an additional 45 shares during the period. Private Management Group Inc. lifted its stake in Lowe’s Companies by 4.0% during the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after purchasing an additional 46 shares during the period. First Bank & Trust boosted its holdings in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after purchasing an additional 46 shares in the last quarter. McAdam LLC boosted its holdings in Lowe’s Companies by 3.5% during the first quarter. McAdam LLC now owns 1,363 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 46 shares in the last quarter. Finally, Zhang Financial LLC grew its stake in shares of Lowe’s Companies by 0.6% in the 2nd quarter. Zhang Financial LLC now owns 7,549 shares of the home improvement retailer’s stock valued at $1,664,000 after purchasing an additional 46 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday. Piper Sandler cut their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Bank of America decreased their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.04.

Lowe’s Companies Stock Performance

NYSE LOW traded up $9.76 during trading hours on Friday, reaching $250.07. 2,685,374 shares of the company’s stock were exchanged, compared to its average volume of 2,537,597. The company has a market capitalization of $142.50 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company’s 50-day moving average is $231.99 and its two-hundred day moving average is $232.64. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 earnings per share. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Lowe’s Companies’s payout ratio is presently 36.95%.

Lowe’s Companies 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.