Envestnet Asset Management Inc. Acquires 12,919 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Envestnet Asset Management Inc. increased its holdings in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,413,051 shares of the home improvement retailer’s stock after acquiring an additional 12,919 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of Lowe’s Companies worth $314,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LOW. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies during the 3rd quarter valued at about $26,000. Tidemark LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at about $27,000. 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 valued at $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Lowe’s Companies during the 4th quarter valued at about $33,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $216.67 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a market capitalization of $123.47 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.67 and a beta of 1.08. The firm’s 50 day simple moving average is $229.21 and its two-hundred day simple moving average is $226.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the previous year, the firm earned $3.67 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LOW shares. Gordon Haskett restated a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, Mizuho began coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and a consensus price target of $251.33.

Check Out Our Latest Analysis on Lowe’s Companies

About Lowe’s Companies

(Free Report)

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.

Further Reading

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

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