North Star Asset Management Inc. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

North Star Asset Management Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,902 shares of the home improvement retailer’s stock after selling 1,257 shares during the quarter. North Star Asset Management Inc.’s holdings in Lowe’s Companies were worth $23,175,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Investment Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies in the fourth quarter worth about $33,000. Orion Capital Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $36,000. Measured Risk Portfolios Inc. bought a new position in Lowe’s Companies in the fourth quarter worth about $42,000. Finally, Millstone Evans Group LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $44,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 1.2%

Shares of NYSE LOW opened at $221.08 on Friday. The business’s 50 day moving average price is $224.61 and its 200 day moving average price is $244.68. The firm has a market cap of $123.74 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.96 and a beta of 1.00. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Lowe’s Companies’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.06 earnings per share. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were given a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.08%. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Truist Financial set a $264.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday. Bank of America cut their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $271.52.

Lowe’s Companies Company 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.