Kesler Norman & Wride LLC Has $9.97 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Kesler Norman & Wride LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,126 shares of the home improvement retailer’s stock after selling 1,856 shares during the period. Lowe’s Companies makes up approximately 2.1% of Kesler Norman & Wride LLC’s holdings, making the stock its 6th largest position. Kesler Norman & Wride LLC’s holdings in Lowe’s Companies were worth $9,967,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth approximately $25,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $26,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Mizuho assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Zelman & Associates restated a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Evercore ISI lowered their target price 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 issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $250.41.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded down $0.40 during trading hours on Thursday, reaching $213.30. The company’s stock had a trading volume of 1,423,518 shares, compared to its average volume of 2,828,350. The firm has a 50 day moving average price of $224.22 and a 200-day moving average price of $228.21. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a market cap of $121.55 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.64 and a beta of 1.08.

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. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the firm posted $3.67 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.28%. Lowe’s Companies’s payout ratio is 35.34%.

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.