Adirondack Trust Co. Has $742,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Adirondack Trust Co. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,084 shares of the home improvement retailer’s stock after selling 141 shares during the quarter. Adirondack Trust Co.’s holdings in Lowe’s Companies were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Morgan Stanley grew its position in shares of Lowe’s Companies by 1.1% during the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after buying an additional 116,855 shares during the period. Norges Bank acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $1,638,746,000. Northern Trust Corp grew its position in shares of Lowe’s Companies by 1.1% in the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after purchasing an additional 78,901 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Lowe’s Companies by 1.3% in the 4th 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 purchasing an additional 41,451 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW traded up $1.10 during trading hours on Tuesday, reaching $227.87. The company’s stock had a trading volume of 411,225 shares, compared to its average volume of 2,426,145. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s 50-day moving average is $226.89 and its 200-day moving average is $227.47. The firm has a market cap of $129.85 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08.

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, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the business earned $3.67 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is 35.34%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. UBS Group boosted their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Stifel Nicolaus boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Zelman & Associates restated a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Company 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.