ProVise Management Group LLC Sells 199 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

ProVise Management Group LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,338 shares of the home improvement retailer’s stock after selling 199 shares during the quarter. ProVise Management Group LLC’s holdings in Lowe’s Companies were worth $965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LOW. Norges Bank purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at about $1,638,746,000. Ontario Teachers Pension Plan Board increased its holdings in Lowe’s Companies by 187,225.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after purchasing an additional 2,110,032 shares during the period. International Assets Investment Management LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $430,090,000. Schroder Investment Management Group raised its position in Lowe’s Companies by 189.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after purchasing an additional 1,831,727 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $206,912,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOW. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday. The Goldman Sachs Group upped their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Evercore ISI cut their target price on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zelman & Associates restated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Trading Down 1.0 %

LOW stock traded down $2.27 during midday trading on Friday, hitting $215.21. The company’s stock had a trading volume of 2,632,395 shares, compared to its average volume of 2,182,965. The firm’s 50-day moving average is $236.44 and its 200-day moving average is $224.81. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a market cap of $123.14 billion, a PE ratio of 17.29, a P/E/G ratio of 1.67 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. Analysts expect that Lowe’s Companies, Inc. will post 12.22 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 2.04%. Lowe’s Companies’s payout ratio is 35.34%.

Lowe’s Companies Company 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.