Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Cut by First Interstate Bank

First Interstate Bank lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,779 shares of the home improvement retailer’s stock after selling 1,139 shares during the period. Lowe’s Companies accounts for 0.7% of First Interstate Bank’s portfolio, making the stock its 23rd biggest holding. First Interstate Bank’s holdings in Lowe’s Companies were worth $9,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tyche Wealth Partners LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $2,332,000. Financial Strategies Group Inc. boosted its holdings in shares of Lowe’s Companies by 22.5% in the fourth quarter. Financial Strategies Group Inc. now owns 14,387 shares of the home improvement retailer’s stock worth $3,029,000 after buying an additional 2,646 shares during the period. Everence Capital Management Inc. boosted its holdings in shares of Lowe’s Companies by 35.6% in the fourth quarter. Everence Capital Management Inc. now owns 24,299 shares of the home improvement retailer’s stock worth $5,408,000 after buying an additional 6,380 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in shares of Lowe’s Companies by 11.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 3,994 shares of the home improvement retailer’s stock worth $889,000 after buying an additional 403 shares during the period. Finally, United Asset Strategies Inc. boosted its holdings in shares of Lowe’s Companies by 17.7% in the fourth quarter. United Asset Strategies Inc. now owns 6,669 shares of the home improvement retailer’s stock worth $1,484,000 after buying an additional 1,001 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.7 %

LOW traded down $1.70 during trading on Tuesday, reaching $228.31. 2,200,935 shares of the company’s stock were exchanged, compared to its average volume of 2,567,834. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The business has a 50 day moving average price of $238.95 and a 200 day moving average price of $218.17. The company has a market capitalization of $130.63 billion, a P/E ratio of 17.43, a PEG ratio of 1.72 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.93%. Lowe’s Companies’s payout ratio is presently 33.43%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. UBS Group increased their price target on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Robert W. Baird raised shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target for the company in a research report on Wednesday, February 14th. Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.