Ignite Planners LLC Cuts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ignite Planners LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,889 shares of the home improvement retailer’s stock after selling 85 shares during the quarter. Ignite Planners LLC’s holdings in Lowe’s Companies were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Paragon Private Wealth Management LLC lifted its stake in Lowe’s Companies by 13.5% during the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock worth $1,086,000 after purchasing an additional 581 shares during the last quarter. ING Groep NV boosted its holdings in shares of Lowe’s Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after buying an additional 106,144 shares in the last quarter. Clifford Swan Investment Counsel LLC grew its position in shares of Lowe’s Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock valued at $47,947,000 after buying an additional 541 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after acquiring an additional 13,680 shares in the last quarter. Finally, Bamco Inc. NY lifted its position in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 0.2 %

LOW stock traded down $0.50 during mid-day trading on Friday, hitting $235.83. 1,675,460 shares of the company were exchanged, compared to its average volume of 2,531,770. The company has a market capitalization of $134.38 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The firm has a fifty day simple moving average of $227.92 and a 200 day simple moving average of $230.87. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating 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 net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 EPS. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. Royal Bank of Canada restated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, DA Davidson lowered their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $250.19.

About Lowe’s Companies

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.