Firethorn Wealth Partners LLC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Firethorn Wealth Partners LLC lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,125 shares of the home improvement retailer’s stock after selling 73 shares during the period. Firethorn Wealth Partners LLC’s holdings in Lowe’s Companies were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Marshall Investment Management LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth about $31,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe’s Companies during the 4th quarter valued at about $33,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at about $36,000. Finally, IFS Advisors LLC raised its stake in shares of Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research reports. Bank of America decreased their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Robert W. Baird cut their price objective on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Mizuho set a $280.00 target price on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $253.00 price target (down from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $271.12.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $228.81 on Wednesday. The firm has a fifty day moving average of $224.00 and a 200 day moving average of $242.35. The firm has a market cap of $128.07 billion, a PE ratio of 19.08, a PEG ratio of 1.96 and a beta of 1.00. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is presently 39.77%.

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.