Alesco Advisors LLC Sells 370 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Alesco Advisors LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,850 shares of the home improvement retailer’s stock after selling 370 shares during the quarter. Alesco Advisors LLC’s holdings in Lowe’s Companies were worth $1,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oak Thistle LLC lifted its stake in Lowe’s Companies by 245.6% in the 3rd quarter. Oak Thistle LLC now owns 4,144 shares of the home improvement retailer’s stock worth $861,000 after purchasing an additional 2,945 shares in the last quarter. Spirit of America Management Corp NY lifted its stake in Lowe’s Companies by 77.1% in the 3rd quarter. Spirit of America Management Corp NY now owns 3,100 shares of the home improvement retailer’s stock worth $644,000 after purchasing an additional 1,350 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Lowe’s Companies by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 212,918 shares of the home improvement retailer’s stock worth $44,253,000 after purchasing an additional 2,974 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in Lowe’s Companies by 6.9% in the 3rd quarter. Red Door Wealth Management LLC now owns 4,695 shares of the home improvement retailer’s stock worth $976,000 after purchasing an additional 302 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Lowe’s Companies by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 10,185 shares of the home improvement retailer’s stock worth $2,117,000 after purchasing an additional 289 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $0.09 during trading hours on Friday, reaching $229.87. The stock had a trading volume of 1,970,953 shares, compared to its average volume of 2,507,264. The company has a fifty day simple moving average of $239.98 and a 200-day simple moving average of $219.70. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock has a market cap of $131.53 billion, a PE ratio of 17.47, a PEG ratio of 1.70 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period last year, the company posted $2.28 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a $1.10 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is 33.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LOW shares. Truist Financial increased their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Robert W. Baird raised shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Finally, StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.52.

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.