Visionary Horizons LLC Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Visionary Horizons LLC increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,097 shares of the home improvement retailer’s stock after purchasing an additional 185 shares during the quarter. Visionary Horizons LLC’s holdings in Lowe’s Companies were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Morgan Stanley increased its stake in shares of Lowe’s Companies by 1.1% during the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after acquiring an additional 116,855 shares during the period. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $1,638,746,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after buying an additional 41,451 shares in the last quarter. Schroder Investment Management Group raised its position in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after acquiring an additional 52,859 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at $430,090,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

NYSE:LOW opened at $218.78 on Thursday. The firm has a market capitalization of $124.67 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.66 and a beta of 1.08. The business has a 50 day simple moving average of $225.89 and a 200 day simple moving average of $228.28. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.67 earnings per share. Research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Morgan Stanley increased their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies Profile

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.