Alerus Financial NA Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Alerus Financial NA trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,421 shares of the home improvement retailer’s stock after selling 189 shares during the quarter. Alerus Financial NA’s holdings in Lowe’s Companies were worth $3,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Carlson Capital Management purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $303,000. Aries Wealth Management grew its stake in Lowe’s Companies by 573.5% in the fourth quarter. Aries Wealth Management now owns 33,474 shares of the home improvement retailer’s stock worth $8,652,000 after purchasing an additional 28,504 shares in the last quarter. Sand Hill Global Advisors LLC boosted its position in Lowe’s Companies by 22.0% during the 4th quarter. Sand Hill Global Advisors LLC now owns 1,358 shares of the home improvement retailer’s stock valued at $351,000 after acquiring an additional 245 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Lowe’s Companies by 0.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 40,078 shares of the home improvement retailer’s stock valued at $10,359,000 after acquiring an additional 249 shares in the last quarter. Finally, Connecticut Wealth Management LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $245,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Several analysts have issued reports on the company. Jefferies Financial Group dropped their target price on Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. DA Davidson decreased their price objective on Lowe’s Companies from $292.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Piper Sandler increased their price objective on Lowe’s Companies to $246.00 and gave the company an “underweight” rating in a report on Thursday, May 19th. Citigroup reduced their target price on Lowe’s Companies from $292.00 to $222.00 in a research note on Friday, May 13th. Finally, Wells Fargo & Company reduced their target price on Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Buy” and an average target price of $243.84.

Shares of LOW stock traded up $2.04 on Wednesday, reaching $186.66. 69,957 shares of the stock were exchanged, compared to its average volume of 4,215,304. Lowe’s Companies, Inc. has a twelve month low of $179.22 and a twelve month high of $263.31. The company has a market capitalization of $123.40 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.25. The business’s 50 day moving average price is $203.81 and its 200 day moving average price is $226.96.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.29. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $23.72 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. Lowe’s Companies’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 13.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Wednesday, April 20th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.71%. Lowe’s Companies’s payout ratio is 26.08%.

Lowe’s Companies Profile (Get Rating)

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

Further Reading

Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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