Pathway Financial Advisers LLC Invests $328,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Pathway Financial Advisers LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,286 shares of the home improvement retailer’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LOW. Norges Bank bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $1,638,746,000. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. International Assets Investment Management LLC acquired a new stake in Lowe’s Companies during the 4th quarter valued at approximately $430,090,000. Canoe Financial LP acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $206,912,000. Finally, M&G Plc acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $217,995,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW stock traded down $0.94 during mid-day trading on Friday, reaching $240.42. 2,258,921 shares of the company traded hands, compared to its average volume of 2,483,161. The company has a market capitalization of $137.00 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company has a fifty day moving average price of $225.93 and a 200-day moving average price of $230.17.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the firm earned $3.67 earnings per share. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. As a group, analysts forecast 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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup reduced their price target on shares of 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 raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $250.04.

Lowe’s Companies 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.