Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Summit Global Investments

Summit Global Investments lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,723 shares of the home improvement retailer’s stock after selling 44 shares during the period. Summit Global Investments’ holdings in Lowe’s Companies were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth $27,000. Winch Advisory Services LLC grew its stake in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $233.01 on Tuesday. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The firm’s 50-day simple moving average is $247.67 and its 200-day simple moving average is $257.80. The firm has a market cap of $131.57 billion, a P/E ratio of 19.43, a PEG ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.97%. Lowe’s Companies’s dividend payout ratio (DPR) is 37.67%.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Piper Sandler dropped their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.71.

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.