Ignite Planners LLC Sells 85 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Ignite Planners LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,889 shares of the home improvement retailer’s stock after selling 85 shares during the period. Ignite Planners LLC’s holdings in Lowe’s Companies were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Sound Income Strategies LLC increased its position in Lowe’s Companies by 20.2% during the second quarter. Sound Income Strategies LLC now owns 1,544 shares of the home improvement retailer’s stock worth $340,000 after buying an additional 260 shares during the last quarter. Cypress Wealth Services LLC raised its stake in Lowe’s Companies by 2.3% in the 2nd quarter. Cypress Wealth Services LLC now owns 2,089 shares of the home improvement retailer’s stock valued at $460,000 after acquiring an additional 47 shares during the period. Bruce G. Allen Investments LLC boosted its stake in Lowe’s Companies by 14.0% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 595 shares of the home improvement retailer’s stock valued at $131,000 after purchasing an additional 73 shares during the period. Atlas Private Wealth Advisors grew its stake in shares of Lowe’s Companies by 100.0% in the second quarter. Atlas Private Wealth Advisors now owns 1,824 shares of the home improvement retailer’s stock valued at $402,000 after acquiring an additional 912 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Lowe’s Companies by 1.8% in the second quarter. QRG Capital Management Inc. now owns 132,130 shares of the home improvement retailer’s stock valued at $29,129,000 after buying an additional 2,295 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded down $0.50 during midday trading on Friday, hitting $235.83. 1,675,460 shares of the company’s stock traded hands, compared to its average volume of 2,531,770. The firm has a fifty day moving average of $227.92 and a 200 day moving average of $230.87. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a market capitalization of $134.38 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted 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 firm had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the business posted $3.67 EPS. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were paid 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 was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent analyst reports. DA Davidson dropped their price target on shares of 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. Truist Financial dropped their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Citigroup reduced their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their target price on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $250.19.

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.