Palouse Capital Management Inc. Sells 61 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Palouse Capital Management Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,869 shares of the home improvement retailer’s stock after selling 61 shares during the quarter. Palouse Capital Management Inc.’s holdings in Lowe’s Companies were worth $1,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at about $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies during the third quarter valued at about $26,000. VisionPoint Advisory Group LLC raised its holdings in Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in Lowe’s Companies during the fourth quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Lowe’s Companies during the third quarter valued at about $40,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

NYSE LOW traded up $1.47 during trading on Friday, hitting $230.26. The stock had a trading volume of 2,112,198 shares, compared to its average volume of 2,546,613. The stock has a market capitalization of $131.75 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.69 and a beta of 1.13. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a 50 day simple moving average of $239.62 and a 200 day simple moving average of $218.63.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LOW shares. Evercore ISI decreased their price target on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a report on Tuesday. Truist Financial raised their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company raised their price objective on Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Citigroup raised their price objective on Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, February 21st. Finally, Wedbush raised their price objective on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.52.

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.