Envestnet Asset Management Inc. Decreases Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Envestnet Asset Management Inc. decreased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,529,313 shares of the home improvement retailer's stock after selling 25,868 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Lowe's Companies worth $356,682,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LOW. Brighton Jones LLC boosted its holdings in Lowe's Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after buying an additional 259 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Lowe's Companies by 72.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer's stock worth $846,000 after buying an additional 1,444 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Lowe's Companies in the 4th quarter worth approximately $831,000. Finally, OFI Invest Asset Management purchased a new position in Lowe's Companies in the fourth quarter worth $64,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. DA Davidson dropped their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Stock Performance

NYSE LOW traded down $3.79 on Friday, hitting $224.12. The stock had a trading volume of 1,840,145 shares, compared to its average volume of 2,496,417. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The company has a market capitalization of $125.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90. The firm has a 50-day moving average of $224.14 and a 200-day moving average of $234.24.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the business posted $3.06 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.14%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 38.11%.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company's stock.

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.