Adell Harriman & Carpenter Inc. Trims Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Adell Harriman & Carpenter Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,662 shares of the home improvement retailer’s stock after selling 150 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Lowe’s Companies were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Greatmark Investment Partners Inc. grew its position in shares of Lowe’s Companies by 1.4% during the fourth quarter. Greatmark Investment Partners Inc. now owns 79,228 shares of the home improvement retailer’s stock worth $17,632,000 after purchasing an additional 1,080 shares in the last quarter. Naviter Wealth LLC grew its holdings in Lowe’s Companies by 8.8% during the 4th quarter. Naviter Wealth LLC now owns 5,161 shares of the home improvement retailer’s stock valued at $1,149,000 after buying an additional 417 shares in the last quarter. Investment House LLC raised its position in shares of Lowe’s Companies by 23.7% during the fourth quarter. Investment House LLC now owns 60,365 shares of the home improvement retailer’s stock valued at $13,434,000 after buying an additional 11,575 shares during the last quarter. Choreo LLC raised its position in shares of Lowe’s Companies by 42.5% during the fourth quarter. Choreo LLC now owns 13,958 shares of the home improvement retailer’s stock valued at $3,106,000 after buying an additional 4,163 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Lowe’s Companies by 7.5% in the fourth quarter. Mather Group LLC. now owns 71,537 shares of the home improvement retailer’s stock worth $15,920,000 after buying an additional 4,965 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. Barclays lifted their price target on shares of Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a report on Thursday, January 4th. The Goldman Sachs Group boosted their target price on Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. DA Davidson restated a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Evercore ISI reduced their price objective on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Robert W. Baird raised Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, February 14th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $252.52.

Lowe’s Companies Stock Performance

NYSE LOW traded down $1.39 on Tuesday, reaching $229.55. 232,218 shares of the stock traded hands, compared to its average volume of 2,467,987. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a fifty day moving average price of $240.06 and a 200-day moving average price of $220.18. The company has a market cap of $131.35 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.70 and a beta of 1.13.

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

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.92%. Lowe’s Companies’s dividend payout ratio (DPR) 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.