Lazard Asset Management LLC Trims Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lazard Asset Management LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,579 shares of the home improvement retailer’s stock after selling 1,326 shares during the quarter. Lazard Asset Management LLC’s holdings in Lowe’s Companies were worth $45,997,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $25,000. Tidemark LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $33,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 1.7 %

Shares of Lowe’s Companies stock traded up $4.10 on Friday, reaching $238.87. 1,942,530 shares of the stock were exchanged, compared to its average volume of 2,878,763. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market capitalization of $136.12 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.83 and a beta of 1.08. The business has a 50 day moving average price of $223.92 and a two-hundred day moving average price of $229.47.

Lowe’s Companies (NYSE:LOW) last released its 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. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company 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 dividend yield of 0.25%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI lowered their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup lowered their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average target price of $250.04.

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.