Clear Harbor Asset Management LLC Has $1.65 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Clear Harbor Asset Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,422 shares of the home improvement retailer’s stock after selling 363 shares during the period. Clear Harbor Asset Management LLC’s holdings in Lowe’s Companies were worth $1,652,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LOW. State Street Corp increased its holdings in Lowe’s Companies by 1.5% during the 2nd quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after purchasing an additional 374,457 shares in the last quarter. Morgan Stanley increased its holdings in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares in the last quarter. Norges Bank acquired a new stake in Lowe’s Companies during the 4th quarter valued at $1,461,267,000. Northern Trust Corp increased its holdings in Lowe’s Companies by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after purchasing an additional 78,901 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW stock traded up $1.40 during midday trading on Thursday, hitting $254.73. 2,621,825 shares of the company’s stock were exchanged, compared to its average volume of 2,604,700. The stock’s fifty day moving average price is $232.18 and its 200-day moving average price is $215.99. The company has a market cap of $145.75 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

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

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.73%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price target on Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Stifel Nicolaus decreased their price objective on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Robert W. Baird upgraded Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research report on Wednesday, February 14th. UBS Group increased their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $251.60.

Lowe’s Companies Company 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.