Iron Horse Wealth Management LLC Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Iron Horse Wealth Management LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 66.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225 shares of the home improvement retailer’s stock after buying an additional 90 shares during the period. Iron Horse Wealth Management LLC’s holdings in Lowe’s Companies were worth $57,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley lifted its position in shares of Lowe’s Companies by 1.1% during the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after acquiring an additional 116,855 shares in the last quarter. Norges Bank purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $1,638,746,000. Charles Schwab Investment Management Inc. increased its holdings in Lowe’s Companies by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after acquiring an additional 41,451 shares during the period. Schroder Investment Management Group lifted its stake in Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $430,090,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $0.66 during trading on Friday, hitting $220.46. 12,630,451 shares of the company’s stock traded hands, compared to its average volume of 2,428,194. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The business has a 50-day simple moving average of $225.32 and a 200-day simple moving average of $228.40. The stock has a market capitalization of $125.63 billion, a P/E ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion during 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 business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.67 earnings per share. On average, equities analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.27%. Lowe’s Companies’s payout ratio is 35.34%.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Gordon Haskett reissued a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. DA Davidson lowered their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. 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 price objective for the company. Finally, Zelman & Associates reiterated a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $251.33.

Lowe’s Companies 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.