Pineridge Advisors LLC Purchases Shares of 657 Lowe’s Companies, Inc. (NYSE:LOW)

Pineridge Advisors LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, HoldingsChannel reports. The firm acquired 657 shares of the home improvement retailer’s stock, valued at approximately $146,000.

A number of other hedge funds have also recently made changes to their positions in LOW. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at $25,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies in the fourth quarter valued at $28,000. Orion Capital Management LLC bought a new position in Lowe’s Companies in the 3rd quarter worth $26,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth about $33,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW stock traded down $3.51 on Friday, reaching $223.35. The stock had a trading volume of 1,936,610 shares, compared to its average volume of 2,526,158. 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 cap of $127.27 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08. The company has a 50 day simple moving average of $227.20 and a 200 day simple moving average of $227.09.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $3.67 earnings per share. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.27%. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Analysts Set New Price Targets

LOW has been the topic of several research reports. Citigroup cut their price objective 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. DA Davidson decreased their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and an average price target of $251.33.

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.