Cambridge Advisors Inc. Sells 809 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cambridge Advisors Inc. trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% during the first quarter, HoldingsChannel reports. The fund owned 12,136 shares of the home improvement retailer’s stock after selling 809 shares during the quarter. Lowe’s Companies comprises 0.7% of Cambridge Advisors Inc.’s holdings, making the stock its 24th largest position. Cambridge Advisors Inc.’s holdings in Lowe’s Companies were worth $3,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Private Management Group Inc. boosted its stake in shares of Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after purchasing an additional 46 shares during the last quarter. First Command Advisory Services Inc. boosted its stake in shares of Lowe’s Companies by 1.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the last quarter. Jag Capital Management LLC boosted its stake in shares of Lowe’s Companies by 0.3% in the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock valued at $3,510,000 after purchasing an additional 48 shares during the last quarter. Hamilton Capital LLC boosted its stake in shares of Lowe’s Companies by 2.1% in the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after purchasing an additional 49 shares during the last quarter. Finally, Abundance Wealth Counselors boosted its stake in shares of Lowe’s Companies by 0.8% in the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock valued at $1,485,000 after purchasing an additional 50 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

LOW opened at $220.53 on Friday. The firm has a market cap of $125.67 billion, a P/E ratio of 17.71, a PEG ratio of 1.68 and a beta of 1.08. The firm has a 50-day moving average of $225.32 and a 200 day moving average of $228.26. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.67 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently declared 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 of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.27%. Lowe’s Companies’s payout ratio is currently 35.34%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LOW. Truist Financial cut their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Citigroup cut their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.