Drive Wealth Management LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,853 shares of the home improvement retailer’s stock after selling 128 shares during the quarter. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $472,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $25,000. Tidemark LLC purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $28,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the third quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $31,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
Lowe’s Companies Stock Performance
Shares of LOW stock traded down $0.09 during mid-day trading on Friday, hitting $229.87. 2,001,196 shares of the stock were exchanged, compared to its average volume of 2,110,073. The stock’s fifty day simple moving average is $239.98 and its two-hundred day simple moving average is $219.70. The stock has a market capitalization of $131.53 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.
Lowe’s Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 33.43%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LOW. Morgan Stanley increased their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. UBS Group increased their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Gordon Haskett reiterated a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $252.52.
Check Out Our Latest Stock Analysis on LOW
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.
See Also
- Five stocks we like better than Lowe’s Companies
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- MarketBeat Week in Review – 4/22 – 4/26
- What is an Earnings Surprise?
- 3 Stocks Leading the U.S. Agriculture Comeback
- Most active stocks: Dollar volume vs share volume
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.