MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 172,833 shares of the home improvement retailer’s stock after selling 5,490 shares during the period. Lowe’s Companies accounts for 2.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 12th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Lowe’s Companies were worth $35,380,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Pacifica Partners Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at about $25,000. Delos Wealth Advisors LLC increased its holdings in shares of Lowe’s Companies by 388.2% during the 4th quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock worth $43,000 after buying an additional 132 shares during the last quarter. Consolidated Planning Corp acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $44,000. Covestor Ltd acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $44,000. Finally, Bell Investment Advisors Inc increased its holdings in shares of Lowe’s Companies by 33.5% during the 4th quarter. Bell Investment Advisors Inc now owns 211 shares of the home improvement retailer’s stock worth $55,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
A number of brokerages have recently issued reports on LOW. Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $260.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, June 8th. Guggenheim lowered their price objective on shares of Lowe’s Companies to $240.00 in a research report on Friday, May 20th. Piper Sandler increased their price objective on shares of Lowe’s Companies to $246.00 and gave the stock an “underweight” rating in a research report on Thursday, May 19th. MKM Partners assumed coverage on shares of Lowe’s Companies in a research report on Thursday. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Wedbush decreased their price target on shares of Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $240.16.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.29. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The company had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $23.72 billion. During the same quarter in the prior year, the firm earned $3.21 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 13.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, July 19th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio is 26.08%.
Lowe’s Companies Profile (Get Rating)
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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