MV Capital Management Inc. Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

MV Capital Management Inc. raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,156 shares of the home improvement retailer’s stock after buying an additional 65 shares during the period. MV Capital Management Inc.’s holdings in Lowe’s Companies were worth $294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $1,638,746,000. International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $430,090,000. Schroder Investment Management Group raised its stake in shares of Lowe’s Companies by 189.5% in 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 in the last quarter. Canoe Financial LP acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $206,912,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $126,615,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Citigroup dropped their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday. 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.com, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $250.41.

Lowe’s Companies Stock Up 0.1 %

NYSE:LOW traded up $0.14 during trading hours on Tuesday, reaching $213.70. 2,144,278 shares of the company’s stock were exchanged, compared to its average volume of 2,551,547. The company has a market capitalization of $121.77 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The business’s 50-day simple moving average is $224.97 and its two-hundred day simple moving average is $228.40.

Lowe’s Companies (NYSE:LOW) last issued 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 during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $3.67 earnings per share. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 35.34%.

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.