Founders Capital Management Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Founders Capital Management lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,056 shares of the home improvement retailer’s stock after selling 174 shares during the period. Lowe’s Companies accounts for about 1.9% of Founders Capital Management’s portfolio, making the stock its 18th largest position. Founders Capital Management’s holdings in Lowe’s Companies were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in shares of Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after purchasing an additional 46 shares during the period. First Command Advisory Services Inc. increased its holdings in Lowe’s Companies by 1.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock worth $576,000 after acquiring an additional 48 shares in the last quarter. Jag Capital Management LLC increased its holdings in Lowe’s Companies by 0.3% in the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock worth $3,510,000 after acquiring an additional 48 shares in the last quarter. Hamilton Capital LLC increased its holdings in Lowe’s Companies by 2.1% in the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after acquiring an additional 49 shares in the last quarter. Finally, Abundance Wealth Counselors increased its holdings in Lowe’s Companies by 0.8% in the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Evercore ISI dropped their target price on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a report on Wednesday, May 22nd. Citigroup dropped their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Finally, Mizuho started coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $251.33.

Lowe’s Companies Stock Performance

Shares of LOW traded down $0.15 during mid-day trading on Thursday, hitting $227.62. 2,377,775 shares of the company’s stock were exchanged, compared to its average volume of 2,439,816. The stock’s 50-day moving average is $226.22 and its 200-day moving average is $227.64. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company has a market cap of $129.71 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.74 and a beta of 1.08.

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

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. Lowe’s Companies’s payout ratio is 36.95%.

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.