Highland Capital Management LLC Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Highland Capital Management LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,240 shares of the home improvement retailer’s stock after selling 1,690 shares during the quarter. Lowe’s Companies accounts for 1.2% of Highland Capital Management LLC’s portfolio, making the stock its 14th largest position. Highland Capital Management LLC’s holdings in Lowe’s Companies were worth $19,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Norges Bank purchased a new stake in Lowe’s Companies in the fourth quarter worth approximately $1,461,267,000. Moneta Group Investment Advisors LLC boosted its holdings in Lowe’s Companies by 107,710.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after purchasing an additional 5,075,327 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Lowe’s Companies by 187,225.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after acquiring an additional 2,110,032 shares during the last quarter. Morgan Stanley boosted its stake in shares of Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Lowe’s Companies by 189.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after acquiring an additional 1,831,727 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $253.33 on Thursday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a market cap of $144.95 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13. The firm has a 50-day moving average of $231.47 and a two-hundred day moving average of $215.72.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the previous year, the business posted $2.28 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Analyst Ratings Changes

LOW has been the topic of several analyst reports. Citigroup lifted their price target on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Stifel Nicolaus dropped their price target on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. DA Davidson reiterated a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday. Finally, Mizuho began coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $251.60.

Lowe’s Companies 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.