Fisher Asset Management LLC Sells 15,719 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Fisher Asset Management LLC cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 571,381 shares of the home improvement retailer’s stock after selling 15,719 shares during the period. Fisher Asset Management LLC’s holdings in Lowe’s Companies were worth $127,161,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Private Management Group Inc. lifted its holdings in Lowe’s Companies by 4.0% during the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after purchasing an additional 46 shares during the last quarter. First Command Advisory Services Inc. boosted its position in shares of Lowe’s Companies by 1.9% in the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after acquiring an additional 48 shares during the period. Jag Capital Management LLC boosted its position in shares of Lowe’s Companies by 0.3% in the fourth quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock valued at $3,510,000 after acquiring an additional 48 shares during the period. Hamilton Capital LLC grew its stake in shares of Lowe’s Companies by 2.1% in the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after acquiring an additional 49 shares in the last quarter. Finally, Abundance Wealth Counselors increased its position in Lowe’s Companies by 0.8% during the fourth quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after acquiring an additional 50 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LOW. JPMorgan Chase & Co. increased their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Mizuho started coverage on Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price objective for the company. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, Zelman & Associates reiterated a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded down $3.51 on Friday, hitting $223.35. The stock had a trading volume of 1,936,610 shares, compared to its average volume of 2,526,158. The stock has a 50 day moving average of $227.20 and a 200 day moving average of $227.28. The firm has a market capitalization of $127.27 billion, a P/E ratio of 17.94, a PEG ratio of 1.71 and a beta of 1.08. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 EPS. Equities analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 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.