Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,965 shares of the home improvement retailer’s stock after selling 638 shares during the period. Lowe’s Companies comprises 1.0% of Pitti Group Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Pitti Group Wealth Management LLC’s holdings in Lowe’s Companies were worth $882,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $25,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies in the third quarter worth about $26,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Lowe’s Companies in the third quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Stifel Nicolaus decreased their price target on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, February 16th. Citigroup raised their price target on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, February 21st. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Finally, Royal Bank of Canada raised 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. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Price Performance

LOW stock traded down $0.09 on Friday, reaching $229.87. 2,001,196 shares of the company 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 stock’s fifty day moving average price is $239.98 and its 200 day moving average price is $219.82. The firm has a market capitalization 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 announced 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 business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

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

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.