Ashton Thomas Private Wealth LLC Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Ashton Thomas Private Wealth LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,210 shares of the home improvement retailer’s stock after selling 295 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Lowe’s Companies were worth $3,620,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in shares of Lowe’s Companies by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 45,346 shares of the home improvement retailer’s stock valued at $11,551,000 after buying an additional 279 shares during the period. FORVIS Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 4.3% in the first quarter. FORVIS Wealth Advisors LLC now owns 33,878 shares of the home improvement retailer’s stock valued at $8,630,000 after acquiring an additional 1,400 shares during the period. GenTrust LLC boosted its position in shares of Lowe’s Companies by 9.1% during the 1st quarter. GenTrust LLC now owns 3,893 shares of the home improvement retailer’s stock worth $992,000 after purchasing an additional 325 shares in the last quarter. Willis Johnson & Associates Inc. purchased a new stake in shares of Lowe’s Companies during the 1st quarter worth $200,000. Finally, American National Bank & Trust Co. VA acquired a new position in shares of Lowe’s Companies during the 1st quarter worth $7,530,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LOW shares. Truist Financial reduced their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Citigroup lowered their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Evercore ISI cut their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Gordon Haskett restated a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $250.41.

Lowe’s Companies Stock Up 0.2 %

Shares of LOW stock traded up $0.50 on Friday, reaching $213.80. 389,156 shares of the stock were exchanged, compared to its average volume of 2,525,840. The stock has a market cap of $121.83 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a 50 day moving average of $223.89 and a two-hundred day moving average of $228.11. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results 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 period in the prior year, the firm posted $3.67 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 35.34%.

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.