Cetera Investment Advisers Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Cetera Investment Advisers raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 180.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,721 shares of the home improvement retailer’s stock after purchasing an additional 159,502 shares during the quarter. Cetera Investment Advisers’ holdings in Lowe’s Companies were worth $63,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson lowered their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Stifel Nicolaus boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $250.04.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $0.94 during trading hours on Friday, reaching $240.42. 2,258,921 shares of the company’s stock were exchanged, compared to its average volume of 2,483,161. The company has a market cap of $137.00 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company’s 50 day moving average is $225.93 and its two-hundred day moving average is $230.17. 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 issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

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.