Envestnet Portfolio Solutions Inc. Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Envestnet Portfolio Solutions Inc. decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,535 shares of the home improvement retailer’s stock after selling 6,429 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lowe’s Companies were worth $12,464,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LOW. Norges Bank acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $1,638,746,000. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Canoe Financial LP acquired a new position in Lowe’s Companies in the 4th quarter valued at $206,912,000. M&G Plc purchased a new position in Lowe’s Companies during the 1st quarter worth $217,995,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth $126,615,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LOW. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. JPMorgan Chase & Co. raised their price target on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. 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 Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $246.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $250.19.

Lowe’s Companies Price Performance

NYSE LOW traded up $1.51 during trading hours on Thursday, hitting $239.15. The company had a trading volume of 777,671 shares, compared to its average volume of 2,520,326. The firm’s 50 day moving average is $228.97 and its 200 day moving average is $231.36. The company has a market capitalization of $136.28 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 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.