Anchor Capital Advisors LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Anchor Capital Advisors LLC cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 69,360 shares of the home improvement retailer’s stock after selling 177 shares during the period. Anchor Capital Advisors LLC’s holdings in Lowe’s Companies were worth $15,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Drive Wealth Management LLC boosted its holdings in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the last quarter. Crown Wealth Group LLC lifted its stake in shares of Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after buying an additional 44 shares in the last quarter. Pure Financial Advisors LLC grew its stake in Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 45 shares in the last quarter. BLB&B Advisors LLC raised its holdings in Lowe’s Companies by 2.2% in the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after acquiring an additional 45 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in shares of Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after purchasing an additional 46 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 0.1 %

Lowe’s Companies stock opened at $243.81 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market cap of $138.93 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10. The company’s 50 day moving average is $236.53 and its two-hundred day moving average is $234.15.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the firm earned $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $252.83.

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.