Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,534 shares of the home improvement retailer’s stock after selling 1,071 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.06% of Lowe’s Companies worth $84,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Lowe’s Companies in the 4th quarter worth about $24,091,000. Dakota Wealth Management boosted its stake in Lowe’s Companies by 3.5% in the 4th quarter. Dakota Wealth Management now owns 15,587 shares of the home improvement retailer’s stock worth $3,469,000 after purchasing an additional 530 shares during the period. Mackenzie Financial Corp boosted its stake in Lowe’s Companies by 14.8% in the 4th quarter. Mackenzie Financial Corp now owns 120,166 shares of the home improvement retailer’s stock worth $26,743,000 after purchasing an additional 15,517 shares during the period. SVB Wealth LLC boosted its stake in Lowe’s Companies by 3.3% in the 4th quarter. SVB Wealth LLC now owns 14,188 shares of the home improvement retailer’s stock worth $3,158,000 after purchasing an additional 457 shares during the period. Finally, United Asset Strategies Inc. boosted its stake in Lowe’s Companies by 17.7% in the 4th quarter. United Asset Strategies Inc. now owns 6,669 shares of the home improvement retailer’s stock worth $1,484,000 after purchasing an additional 1,001 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $1.09 on Friday, hitting $241.15. The company had a trading volume of 1,725,466 shares, compared to its average volume of 2,529,547. The firm has a market capitalization of $137.42 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock has a 50-day moving average of $229.40 and a 200-day moving average of $231.42.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.67 earnings per share. Equities analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. raised their price objective on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday. Finally, Truist Financial decreased their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $250.19.

About Lowe’s Companies

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.