Grimes & Company Inc. Has $1.86 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Grimes & Company Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,313 shares of the home improvement retailer’s stock after acquiring an additional 136 shares during the quarter. Grimes & Company Inc.’s holdings in Lowe’s Companies were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at $26,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $28,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $31,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOW. Gordon Haskett restated a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Mizuho began coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price objective for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Stock Performance

NYSE LOW opened at $220.46 on Friday. The stock has a market capitalization of $125.63 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock’s 50 day moving average price is $225.32 and its two-hundred day moving average price is $228.40.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.67 EPS. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

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.