Envestnet Asset Management Inc. Boosts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Envestnet Asset Management Inc. boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,413,051 shares of the home improvement retailer’s stock after purchasing an additional 12,919 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lowe’s Companies were worth $314,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LOW. Soltis Investment Advisors LLC raised its position in Lowe’s Companies by 19.9% during the 3rd quarter. Soltis Investment Advisors LLC now owns 1,591 shares of the home improvement retailer’s stock worth $331,000 after buying an additional 264 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Lowe’s Companies by 7.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 3,097 shares of the home improvement retailer’s stock valued at $644,000 after purchasing an additional 220 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Lowe’s Companies by 0.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,770 shares of the home improvement retailer’s stock valued at $2,654,000 after purchasing an additional 73 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Lowe’s Companies by 0.6% during the 3rd quarter. Van ECK Associates Corp now owns 80,371 shares of the home improvement retailer’s stock valued at $16,705,000 after purchasing an additional 473 shares in the last quarter. Finally, Plancorp LLC increased its holdings in shares of Lowe’s Companies by 6.1% during the 3rd quarter. Plancorp LLC now owns 1,417 shares of the home improvement retailer’s stock valued at $295,000 after purchasing an additional 82 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.8 %

Shares of LOW opened at $216.67 on Friday. The firm has a market cap of $123.47 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company’s 50-day moving average price is $229.21 and its 200 day moving average price is $226.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. Equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

Several research firms have recently weighed in on LOW. JPMorgan Chase & Co. lifted their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Mizuho began coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. Citigroup cut their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Truist Financial cut their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $251.33.

Read Our Latest Report on Lowe’s Companies

Lowe’s Companies Profile

(Free Report)

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.

Further Reading

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:LOWFree Report).

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.