Laurel Wealth Advisors LLC Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

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Laurel Wealth Advisors LLC trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,102 shares of the home improvement retailer’s stock after selling 200 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $616,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Tdam USA Inc. increased its stake in shares of Lowe’s Companies by 9.5% in the 1st quarter. Tdam USA Inc. now owns 8,719 shares of the home improvement retailer’s stock worth $954,000 after acquiring an additional 760 shares in the last quarter. Cadence Bank NA increased its stake in shares of Lowe’s Companies by 0.5% in the 1st quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock worth $2,568,000 after acquiring an additional 112 shares in the last quarter. JNBA Financial Advisors bought a new stake in Lowe’s Companies during the 2nd quarter valued at about $40,000. Carnick & Kubik Group LLC increased its stake in Lowe’s Companies by 1.5% during the 2nd quarter. Carnick & Kubik Group LLC now owns 20,915 shares of the home improvement retailer’s stock valued at $2,111,000 after purchasing an additional 310 shares in the last quarter. Finally, Moseley Investment Management Inc. bought a new stake in Lowe’s Companies during the 1st quarter valued at about $360,000. 75.85% of the stock is owned by hedge funds and other institutional investors.

Shares of LOW stock traded down $0.11 during trading hours on Tuesday, reaching $106.29. The company had a trading volume of 1,342,116 shares, compared to its average volume of 5,806,202. The business has a fifty day moving average price of $101.83 and a 200-day moving average price of $103.87. Lowe’s Companies, Inc. has a one year low of $84.75 and a one year high of $118.23. The firm has a market cap of $83.29 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. The company has a debt-to-equity ratio of 7.80, a quick ratio of 0.19 and a current ratio of 1.06.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm had revenue of $20.99 billion during the quarter, compared to analyst estimates of $20.96 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that Lowe’s Companies, Inc. will post 5.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.07%. Lowe’s Companies’s dividend payout ratio is presently 42.80%.

A number of analysts have weighed in on LOW shares. Telsey Advisory Group raised their price objective on shares of Lowe’s Companies from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Credit Suisse Group restated a “neutral” rating and set a $114.00 price objective (up from $99.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. ValuEngine lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada set a $123.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Lowe’s Companies currently has an average rating of “Buy” and an average target price of $116.09.

In related news, EVP Donald Frieson purchased 2,030 shares of Lowe’s Companies stock in a transaction dated Wednesday, June 19th. The stock was purchased at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the purchase, the executive vice president now directly owns 10,980 shares of the company’s stock, valued at approximately $1,083,616.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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