Handelsinvest Investeringsforvaltning Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Handelsinvest Investeringsforvaltning reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,336 shares of the home improvement retailer’s stock after selling 1,145 shares during the period. Lowe’s Companies accounts for about 0.8% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 26th biggest holding. Handelsinvest Investeringsforvaltning’s holdings in Lowe’s Companies were worth $1,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at about $28,000. Orion Capital Management LLC acquired a new position in Lowe’s Companies in the 3rd quarter valued at about $26,000. Finally, Transcendent Capital Group LLC acquired a new position in Lowe’s Companies in the 4th quarter valued at about $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 0.1 %

Shares of Lowe’s Companies stock opened at $213.50 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market cap of $121.66 billion, a PE ratio of 17.17, a P/E/G ratio of 1.69 and a beta of 1.08. The business’s fifty day moving average is $224.97 and its two-hundred day moving average is $228.40.

Lowe’s Companies (NYSE:LOW) last issued its quarterly 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 negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target on the stock. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Gordon Haskett restated a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. DA Davidson dropped their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $250.41.

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.