Drive Wealth Management LLC Sells 128 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Drive Wealth Management LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,853 shares of the home improvement retailer’s stock after selling 128 shares during the period. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its holdings in Lowe’s Companies by 4.0% in the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after purchasing an additional 46 shares during the period. First Bank & Trust increased its holdings in Lowe’s Companies by 3.1% in the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after purchasing an additional 46 shares during the period. First Command Advisory Services Inc. increased its holdings in Lowe’s Companies by 1.9% in the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the period. Jag Capital Management LLC increased its holdings in Lowe’s Companies by 0.3% in the fourth quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock valued at $3,510,000 after purchasing an additional 48 shares during the period. Finally, Hamilton Capital LLC increased its holdings in Lowe’s Companies by 2.1% in the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after purchasing an additional 49 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded down $0.09 during mid-day trading on Friday, hitting $229.87. 2,001,196 shares of the stock were exchanged, compared to its average volume of 2,110,073. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a 50-day simple moving average of $239.98 and a 200 day simple moving average of $219.70. The company has a market capitalization of $131.53 billion, a P/E ratio of 17.47, a P/E/G 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 for the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter last year, the firm earned $2.28 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on LOW. Wells Fargo & Company increased their price objective on Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley increased their price target on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Gordon Haskett reiterated a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. UBS Group increased their price target on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Piper Sandler increased their price target on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $252.52.

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.