Meritage Portfolio Management Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Meritage Portfolio Management lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,653 shares of the home improvement retailer’s stock after buying an additional 328 shares during the quarter. Meritage Portfolio Management’s holdings in Lowe’s Companies were worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Harbour Trust & Investment Management Co purchased a new stake in Lowe’s Companies in the fourth quarter worth about $5,890,000. Biondo Investment Advisors LLC lifted its position in Lowe’s Companies by 1.0% during the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after purchasing an additional 620 shares during the period. Perigon Wealth Management LLC lifted its position in Lowe’s Companies by 18.6% during the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after purchasing an additional 584 shares during the period. Legacy CG LLC lifted its position in Lowe’s Companies by 25.0% during the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock valued at $5,107,000 after purchasing an additional 4,583 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Lowe’s Companies during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOW. Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, February 14th. Stifel Nicolaus dropped their price target on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Wedbush lifted their price target on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Oppenheimer reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Monday, March 4th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded down $0.33 during trading hours on Thursday, reaching $229.96. The company’s stock had a trading volume of 1,985,004 shares, compared to its average volume of 2,513,444. The firm has a 50 day moving average price of $239.88 and a 200-day moving average price of $219.43. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a market cap of $131.58 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.73 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the previous year, the company earned $2.28 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.