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

Drive Wealth Management LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,853 shares of the home improvement retailer’s stock after selling 128 shares during the quarter. Drive Wealth Management LLC’s holdings in Lowe’s Companies were worth $472,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $25,000. Tidemark LLC purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $28,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the third quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the fourth quarter worth approximately $31,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW 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. The stock’s fifty day simple moving average is $239.98 and its two-hundred day simple moving average is $219.70. The stock has a market capitalization of $131.53 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 1.70 and a beta of 1.13. 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 quarterly 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 negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the company posted $2.28 earnings per share. The business’s revenue was down 17.1% on a year-over-year basis. On average, research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOW. Morgan Stanley increased their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. UBS Group increased their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Gordon Haskett reiterated a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. 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 stock currently has an average rating of “Hold” and an average price target 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.