Pictet Asset Management Holding SA Sells 15,034 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pictet Asset Management Holding SA lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 733,037 shares of the home improvement retailer’s stock after selling 15,034 shares during the period. Pictet Asset Management Holding SA owned 0.13% of Lowe’s Companies worth $180,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Klingenstein Fields & Co. LP increased its position in Lowe’s Companies by 1.0% during the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after buying an additional 39 shares during the period. Saxony Capital Management LLC increased its position in Lowe’s Companies by 4.2% during the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after acquiring an additional 40 shares during the period. Powers Advisory Group LLC raised its stake in Lowe’s Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after purchasing an additional 40 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in Lowe’s Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after purchasing an additional 41 shares during the period. Finally, O Brien Greene & Co. Inc grew its position in shares of Lowe’s Companies by 1.5% during the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock worth $715,000 after purchasing an additional 42 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LOW shares. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler cut their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Bank of America decreased their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $279.71.

Lowe’s Companies Price Performance

NYSE:LOW opened at $228.20 on Friday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The firm’s 50 day simple moving average is $245.57 and its 200 day simple moving average is $257.24. The company has a market cap of $127.73 billion, a PE ratio of 19.03, a P/E/G ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio (DPR) is 37.67%.

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.