Hartford Funds Management Co LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Funds Management Co LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,765 shares of the home improvement retailer’s stock after purchasing an additional 1,086 shares during the quarter. Lowe’s Companies accounts for approximately 0.1% of Hartford Funds Management Co LLC’s portfolio, making the stock its 25th largest holding. Hartford Funds Management Co LLC’s holdings in Lowe’s Companies were worth $838,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $25,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC raised its holdings in shares of 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 buying an additional 70 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Lowe’s Companies during the 3rd quarter valued at about $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Lowe’s Companies during the 4th quarter valued at approximately $47,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW traded down $3.02 during midday trading on Tuesday, reaching $227.92. The stock had a trading volume of 2,435,258 shares, compared to its average volume of 2,494,747. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The firm’s 50 day moving average price is $240.11 and its 200-day moving average price is $220.41. The company has a market capitalization of $130.41 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.70 and a beta of 1.13.

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

Lowe’s Companies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LOW shares. Oppenheimer restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Monday, March 4th. Morgan Stanley raised their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Mizuho started coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. Stifel Nicolaus decreased their target price on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Finally, UBS Group lifted their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $252.52.

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.