Sheets Smith Wealth Management Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sheets Smith Wealth Management trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,872 shares of the home improvement retailer’s stock after selling 1,691 shares during the period. Sheets Smith Wealth Management’s holdings in Lowe’s Companies were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. W.H. Cornerstone Investments Inc. raised its stake in shares of Lowe’s Companies by 12.5% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 5,714 shares of the home improvement retailer’s stock valued at $1,272,000 after purchasing an additional 637 shares in the last quarter. Connecticut Wealth Management LLC raised its stake in shares of Lowe’s Companies by 268.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 5,105 shares of the home improvement retailer’s stock valued at $1,136,000 after purchasing an additional 3,720 shares in the last quarter. FourThought Financial Partners LLC raised its stake in shares of Lowe’s Companies by 0.4% in the 4th quarter. FourThought Financial Partners LLC now owns 58,312 shares of the home improvement retailer’s stock valued at $12,977,000 after purchasing an additional 242 shares in the last quarter. TCG Advisory Services LLC raised its stake in shares of Lowe’s Companies by 7.3% in the 4th quarter. TCG Advisory Services LLC now owns 1,697 shares of the home improvement retailer’s stock valued at $378,000 after purchasing an additional 115 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its stake in shares of Lowe’s Companies by 8.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 13,661 shares of the home improvement retailer’s stock valued at $3,040,000 after purchasing an additional 1,054 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LOW. Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, February 14th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. UBS Group increased their price objective on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Stifel Nicolaus dropped their price objective on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Morgan Stanley increased their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Trading Up 1.1 %

LOW stock traded up $2.55 during midday trading on Friday, reaching $232.13. The company had a trading volume of 1,834,728 shares, compared to its average volume of 2,044,726. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market capitalization of $132.82 billion, a P/E ratio of 17.64, a PEG ratio of 1.72 and a beta of 1.15. The company has a 50 day moving average of $240.07 and a two-hundred day moving average of $221.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is presently 33.43%.

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.