Handelsinvest Investeringsforvaltning Has $1.61 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Handelsinvest Investeringsforvaltning trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 15.3% during the first quarter, HoldingsChannel reports. The fund owned 6,336 shares of the home improvement retailer’s stock after selling 1,145 shares during the period. Lowe’s Companies comprises about 0.8% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 26th largest position. Handelsinvest Investeringsforvaltning’s holdings in Lowe’s Companies were worth $1,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies in the 3rd quarter valued at $26,000. Tidemark LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the 4th 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 commented on LOW. Evercore ISI decreased their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday. Citigroup decreased their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Mizuho began coverage on shares of 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. Fifteen 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 company currently has a consensus rating of “Hold” and an average target price of $250.41.

Lowe’s Companies Stock Down 0.1 %

NYSE LOW opened at $213.50 on Wednesday. The company has a market capitalization of $121.66 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The firm has a 50-day moving average price of $224.97 and a two-hundred day moving average price of $228.40.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The firm 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 business’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 firm posted $3.67 EPS. Equities analysts expect 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. Stockholders of record on Wednesday, July 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s payout ratio is presently 35.34%.

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.