Valley National Advisers Inc. Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Valley National Advisers Inc. trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,712 shares of the home improvement retailer’s stock after selling 598 shares during the quarter. Valley National Advisers Inc.’s holdings in Lowe’s Companies were worth $1,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new position in Lowe’s Companies during the 4th quarter worth about $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE:LOW traded up $1.15 during trading hours on Friday, hitting $241.21. The company’s stock had a trading volume of 1,725,717 shares, compared to its average volume of 2,529,547. The company has a market capitalization of $137.45 billion, a P/E ratio of 19.37, a PEG ratio of 1.85 and a beta of 1.07. The stock has a fifty day simple moving average of $229.89 and a 200-day simple moving average of $231.63. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm earned $3.67 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities 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 was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were issued 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 (DPR) is currently 36.95%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOW shares. DA Davidson decreased their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI cut their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Citigroup cut 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 research note on Tuesday, May 7th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $250.19.

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.