Fruth Investment Management Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Fruth Investment Management lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,050 shares of the home improvement retailer’s stock after selling 50 shares during the period. Fruth Investment Management’s holdings in Lowe’s Companies were worth $2,560,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Lowe’s Companies in the 4th quarter worth approximately $1,638,746,000. International Assets Investment Management LLC bought a new position in Lowe’s Companies in the 4th quarter worth approximately $430,090,000. Schroder Investment Management Group boosted its holdings in 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 worth $581,592,000 after buying an additional 1,831,727 shares during the period. Canoe Financial LP bought a new position in Lowe’s Companies in the 4th quarter worth approximately $206,912,000. Finally, Pathstone Holdings LLC bought a new position in Lowe’s Companies in the 4th quarter worth approximately $126,615,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.2 %

Shares of LOW traded down $0.40 during trading hours on Thursday, reaching $213.30. 1,423,518 shares of the company traded hands, compared to its average volume of 2,828,350. The company’s fifty day moving average price is $224.22 and its two-hundred day moving average price is $228.21. The company has a market capitalization of $121.55 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.64 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.

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

Lowe’s Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

LOW has been the subject of several analyst reports. Citigroup cut their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Finally, Truist Financial cut their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $250.41.

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.