Hennion & Walsh Asset Management Inc. Has $1.48 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Hennion & Walsh Asset Management Inc. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 20.0% in the second quarter, Holdings Channel reports. The fund owned 6,722 shares of the home improvement retailer’s stock after selling 1,681 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lowe’s Companies were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth about $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LOW. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. JPMorgan Chase & Co. increased their price target on shares of Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. DA Davidson reduced their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Citigroup lowered their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $250.19.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $243.19 on Tuesday. The stock has a 50 day moving average price of $230.39 and a 200 day moving average price of $232.04. The stock has a market capitalization of $138.58 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. 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 issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for 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 firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.67 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio is presently 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.