Congress Wealth Management LLC DE Has $11.37 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Congress Wealth Management LLC DE trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 38.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,075 shares of the home improvement retailer’s stock after selling 28,336 shares during the period. Congress Wealth Management LLC DE’s holdings in Lowe’s Companies were worth $11,372,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LOW. Mountain Hill Investment Partners Corp. acquired a new position in Lowe’s Companies during the fourth quarter valued at approximately $137,000. Horrell Capital Management Inc. raised its holdings in Lowe’s Companies by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,803 shares of the home improvement retailer’s stock worth $6,615,000 after acquiring an additional 76 shares during the period. Crowley Wealth Management Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth $5,654,000. Stevens Capital Management LP bought a new stake in Lowe’s Companies during the fourth quarter valued at about $339,000. Finally, LPL Financial LLC grew its position in shares of Lowe’s Companies by 8.1% in the fourth quarter. LPL Financial LLC now owns 879,527 shares of the home improvement retailer’s stock valued at $217,067,000 after purchasing an additional 65,910 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Bank of America cut their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Mizuho lowered their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Finally, Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Up 2.6 %

NYSE:LOW opened at $233.01 on Tuesday. The firm has a market cap of $131.57 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The company’s 50-day moving average price is $247.67 and its two-hundred day moving average price is $257.80.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is presently 37.67%.

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.