Mezzasalma Advisors LLC Sells 2,188 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mezzasalma Advisors LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 29.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,260 shares of the home improvement retailer’s stock after selling 2,188 shares during the period. Mezzasalma Advisors LLC’s holdings in Lowe’s Companies were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Paragon Private Wealth Management LLC raised its stake in shares of Lowe’s Companies by 13.5% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares during the period. ING Groep NV increased its position in shares of Lowe’s Companies by 18,786.5% during the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after buying an additional 106,144 shares during the period. Clifford Swan Investment Counsel LLC lifted its holdings in shares of Lowe’s Companies by 0.3% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after buying an additional 541 shares in the last quarter. Brevan Howard Capital Management LP boosted its position in shares of Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after acquiring an additional 13,680 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Lowe’s Companies by 1.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock valued at $10,031,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded down $0.40 during mid-day trading on Thursday, hitting $213.30. The stock had a trading volume of 1,423,518 shares, compared to its average volume of 2,828,350. The firm has a market cap of $121.55 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. The business has a 50 day moving average price of $224.22 and a two-hundred day moving average price of $228.21. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last released 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 for the quarter, compared to analysts’ expectations 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 earned $3.67 earnings per share. Equities research analysts predict 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. Shareholders of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 35.34%.

Wall Street Analyst Weigh In

LOW has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Zelman & Associates reissued a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Truist Financial dropped their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $250.41.

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.