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

MV Capital Management Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719 shares of the home improvement retailer’s stock after selling 250 shares during the period. MV Capital Management Inc.’s holdings in Lowe’s Companies were worth $177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. IFS Advisors LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $25,000. Marshall Investment Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at $31,000. Winch Advisory Services LLC grew its holdings in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 44 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies in the fourth quarter worth $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent research reports. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Mizuho reduced their target price on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Truist Financial lowered their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Piper Sandler decreased their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $279.71.

Lowe’s Companies Stock Down 1.7 %

Shares of NYSE LOW opened at $228.20 on Friday. The firm’s 50-day moving average price is $245.57 and its two-hundred day moving average price is $257.24. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The stock has a market capitalization of $127.73 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

Lowe’s Companies Company 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.