Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,709 shares of the home improvement retailer’s stock after selling 334 shares during the quarter. Lowe’s Companies comprises 1.3% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 22nd biggest holding. Plimoth Trust Co. LLC’s holdings in Lowe’s Companies were worth $4,766,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Silverlake Wealth Management LLC boosted its stake in shares of Lowe’s Companies by 16.0% during the 1st quarter. Silverlake Wealth Management LLC now owns 2,171 shares of the home improvement retailer’s stock worth $553,000 after acquiring an additional 300 shares in the last quarter. Naviter Wealth LLC raised its stake in shares of Lowe’s Companies by 20.5% during the 1st quarter. Naviter Wealth LLC now owns 6,217 shares of the home improvement retailer’s stock worth $1,584,000 after buying an additional 1,056 shares during the last quarter. Verum Partners LLC grew its stake in Lowe’s Companies by 2.5% in the 1st quarter. Verum Partners LLC now owns 7,224 shares of the home improvement retailer’s stock valued at $1,840,000 after acquiring an additional 173 shares during the last quarter. MV Capital Management Inc. raised its position in Lowe’s Companies by 6.0% during the first quarter. MV Capital Management Inc. now owns 1,156 shares of the home improvement retailer’s stock worth $294,000 after acquiring an additional 65 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Lowe’s Companies in the first quarter valued at approximately $101,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.1 %

Shares of NYSE LOW opened at $213.75 on Wednesday. The stock has a market capitalization of $121.80 billion, a P/E ratio of 17.17, a PEG ratio of 1.69 and a beta of 1.08. The stock’s 50 day moving average price is $224.97 and its two-hundred day moving average price is $228.40. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week 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 (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 firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period last year, the business posted $3.67 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LOW. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Mizuho assumed coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Truist Financial decreased their price target on 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. Citigroup cut their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $250.41.

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.