Delta Asset Management LLC TN Sells 3,676 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Delta Asset Management LLC TN lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 255,826 shares of the home improvement retailer’s stock after selling 3,676 shares during the quarter. Lowe’s Companies accounts for approximately 5.4% of Delta Asset Management LLC TN’s portfolio, making the stock its 3rd largest position. Delta Asset Management LLC TN’s holdings in Lowe’s Companies were worth $56,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $25,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies during the third quarter worth approximately $26,000. VisionPoint Advisory Group LLC increased its stake in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $40,000. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LOW has been the subject of a number of analyst reports. Truist Financial dropped their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group boosted their price objective on shares of Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Mizuho initiated coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target on the stock. The Goldman Sachs Group raised their price objective on Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Zelman & Associates restated a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Fifteen 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 an average rating of “Hold” and a consensus target price of $251.33.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded down $3.73 during trading hours on Wednesday, hitting $221.13. 2,767,551 shares of the company’s stock traded hands, compared to its average volume of 2,445,523. The company has a fifty day simple moving average of $238.10 and a 200-day simple moving average of $224.74. The stock has a market capitalization of $126.53 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.69 and a beta of 1.15. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.99%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.