Cornerstone Advisors LLC Sells 200 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cornerstone Advisors LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,000 shares of the home improvement retailer’s stock after selling 200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Lowe’s Companies were worth $5,952,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Drive Wealth Management LLC lifted its position in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares in the last quarter. Crown Wealth Group LLC lifted its holdings in Lowe’s Companies by 4.4% during the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares during the period. Pure Financial Advisors LLC grew its stake in Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares during the period. BLB&B Advisors LLC increased its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares during the last quarter. Finally, First Bank & Trust increased its holdings in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after buying an additional 46 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 1.3 %

Shares of NYSE LOW opened at $255.41 on Monday. The stock’s 50-day moving average is $240.11 and its 200 day moving average is $234.75. The stock has a market cap of $144.89 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the business posted $4.56 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analysts Set New Price Targets

LOW has been the subject of several research reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada dropped their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Gordon Haskett lowered their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. Finally, DA Davidson lowered their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $252.83.

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.