Haverford Trust Co Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Haverford Trust Co lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 900,248 shares of the home improvement retailer’s stock after selling 18,010 shares during the period. Lowe’s Companies comprises 2.2% of Haverford Trust Co’s portfolio, making the stock its 11th largest holding. Haverford Trust Co’s holdings in Lowe’s Companies were worth $222,181,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. United Bank boosted its stake in Lowe’s Companies by 1.4% in the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after purchasing an additional 137 shares during the period. Pacer Advisors Inc. lifted its position in Lowe’s Companies by 2.9% in the third quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer’s stock worth $11,448,000 after buying an additional 1,175 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Lowe’s Companies by 3.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock worth $3,748,000 after purchasing an additional 399 shares during the period. Cerity Partners LLC boosted its position in shares of Lowe’s Companies by 19.0% during the third quarter. Cerity Partners LLC now owns 210,662 shares of the home improvement retailer’s stock valued at $57,058,000 after buying an additional 33,686 shares during the period. Finally, Lane & Associates LLC bought a new position in shares of Lowe’s Companies in the third quarter worth about $370,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $227.09 on Monday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm has a market capitalization of $128.23 billion, a PE ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12. The stock’s 50-day simple moving average is $247.99 and its 200-day simple moving average is $257.88.

Lowe’s Companies (NYSE:LOW) last released its quarterly 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 company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.03%. Lowe’s Companies’s payout ratio is currently 37.67%.

Analyst Ratings Changes

Several research firms have recently commented on LOW. Mizuho reduced their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Evercore ISI boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Bank of America decreased their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $280.83.

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.