Naviter Wealth LLC Raises Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Naviter Wealth LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 20.5% in the first quarter, Holdings Channel reports. The fund owned 6,217 shares of the home improvement retailer’s stock after buying an additional 1,056 shares during the period. Naviter Wealth LLC’s holdings in Lowe’s Companies were worth $1,584,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LOW. Verum Partners LLC lifted its position in shares of Lowe’s Companies by 2.5% during the 1st quarter. Verum Partners LLC now owns 7,224 shares of the home improvement retailer’s stock worth $1,840,000 after buying an additional 173 shares during the last quarter. MV Capital Management Inc. lifted its position in shares of Lowe’s Companies by 6.0% during the 1st quarter. MV Capital Management Inc. now owns 1,156 shares of the home improvement retailer’s stock worth $294,000 after buying an additional 65 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $101,000. Financial Strategies Group Inc. lifted its position in shares of Lowe’s Companies by 20.5% during the 1st quarter. Financial Strategies Group Inc. now owns 17,332 shares of the home improvement retailer’s stock worth $4,236,000 after buying an additional 2,945 shares during the last quarter. Finally, Westhampton Capital LLC increased its holdings in shares of Lowe’s Companies by 2.0% in the 1st quarter. Westhampton Capital LLC now owns 7,625 shares of the home improvement retailer’s stock valued at $1,942,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.1 %

Shares of LOW stock opened at $213.75 on Wednesday. The stock has a 50 day moving average of $224.97 and a 200-day moving average of $228.40. The firm has a market cap of $121.80 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month 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 EPS 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 analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS 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. Shareholders of record on Wednesday, July 24th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Mizuho assumed coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price on the stock. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Finally, Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and an average target price of $250.41.

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.