Ameriprise Financial Inc. Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Ameriprise Financial Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,474,080 shares of the home improvement retailer’s stock after selling 152,136 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.44% of Lowe’s Companies worth $604,610,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IFS Advisors LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at about $25,000. Winch Advisory Services LLC increased its position in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth $31,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at $33,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.2 %

Shares of NYSE:LOW opened at $227.18 on Monday. The company has a fifty day simple moving average of $227.43 and a 200 day simple moving average of $248.63. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The firm has a market cap of $127.15 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. DA Davidson restated a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 16th. Truist Financial dropped their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. KeyCorp raised Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target on the stock in a research note on Friday, April 25th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $278.21.

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.