Seelaus Asset Management LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Seelaus Asset Management LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 16.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,241 shares of the home improvement retailer’s stock after selling 1,833 shares during the quarter. Lowe’s Companies comprises 1.1% of Seelaus Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Seelaus Asset Management LLC’s holdings in Lowe’s Companies were worth $1,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LOW. Dark Forest Capital Management LP purchased a new stake in Lowe’s Companies in the 3rd quarter worth about $151,000. Cetera Advisors LLC grew its holdings in Lowe’s Companies by 8.7% during the 3rd quarter. Cetera Advisors LLC now owns 24,615 shares of the home improvement retailer’s stock valued at $4,993,000 after buying an additional 1,969 shares in the last quarter. Easterly Investment Partners LLC grew its holdings in Lowe’s Companies by 1,007.3% during the 3rd quarter. Easterly Investment Partners LLC now owns 23,254 shares of the home improvement retailer’s stock valued at $4,717,000 after buying an additional 21,154 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Lowe’s Companies by 15.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,753 shares of the home improvement retailer’s stock valued at $356,000 after buying an additional 239 shares in the last quarter. Finally, Willis Investment Counsel grew its holdings in Lowe’s Companies by 17.2% during the 3rd quarter. Willis Investment Counsel now owns 89,800 shares of the home improvement retailer’s stock valued at $18,217,000 after buying an additional 13,183 shares in the last quarter. 75.46% of the stock is owned by institutional investors.

NYSE:LOW opened at $173.60 on Thursday. The business has a 50 day moving average of $192.47 and a 200 day moving average of $218.73. The company has a market capitalization of $110.95 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.02 and a beta of 1.25. Lowe’s Companies, Inc. has a 1-year low of $170.12 and a 1-year high of $263.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last released its earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.29. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $23.72 billion. During the same quarter in the previous year, the company posted $3.21 EPS. Lowe’s Companies’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 13.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $4.20 annualized dividend and a yield of 2.42%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s payout ratio is presently 26.08%.

LOW has been the subject of a number of recent analyst reports. Wedbush reduced their target price on Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Truist Financial reduced their target price on Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Guggenheim reduced their target price on Lowe’s Companies to $240.00 in a report on Friday, May 20th. MKM Partners started coverage on Lowe’s Companies in a report on Thursday. They set a “neutral” rating and a $190.00 price objective for the company. Finally, StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Sunday, May 29th. One equities 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. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $240.16.

About Lowe’s Companies (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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