Plimoth Trust Co. LLC Sells 1,605 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Plimoth Trust Co. LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,104 shares of the home improvement retailer’s stock after selling 1,605 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Lowe’s Companies were worth $3,771,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LOW. Vanguard Group Inc. lifted its position in shares of Lowe’s Companies by 5.2% in the first 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. Norges Bank bought a new position in Lowe’s Companies during the fourth quarter worth $1,638,746,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after purchasing an additional 41,451 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LOW. Truist Financial increased their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reduced their price target on 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. Bank of America lowered their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $252.96.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded down $2.04 during trading on Thursday, reaching $240.33. 1,979,872 shares of the stock were exchanged, compared to its average volume of 2,536,691. The stock has a fifty day moving average of $231.45 and a two-hundred day moving average of $232.32. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The firm has a market cap of $136.95 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the company earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. 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.