Merit Financial Group LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Merit Financial Group LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 27.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,505 shares of the home improvement retailer’s stock after selling 3,253 shares during the period. Merit Financial Group LLC’s holdings in Lowe’s Companies were worth $1,893,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LOW. Ontario Teachers Pension Plan Board lifted its position in shares of Lowe’s Companies by 187,225.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after purchasing an additional 2,110,032 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $430,090,000. Schroder Investment Management Group lifted its position in shares of Lowe’s Companies by 189.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after purchasing an additional 1,831,727 shares during the period. Aristotle Capital Management LLC lifted its position in shares of Lowe’s Companies by 143.8% in the 3rd quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock worth $283,019,000 after purchasing an additional 803,216 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Lowe’s Companies during the third quarter valued at approximately $144,530,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $232.13 on Friday. The firm has a market cap of $132.82 billion, a PE ratio of 17.64, a P/E/G ratio of 1.72 and a beta of 1.15. The firm’s fifty day moving average is $240.07 and its 200 day moving average is $220.75. 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 released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the business earned $2.28 earnings per share. 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 company also recently declared 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. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.90%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Analysts Set New Price Targets

A number of research firms recently commented on LOW. Truist Financial increased their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Oppenheimer reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $252.52.

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.