Lowe’s Companies, Inc. (NYSE:LOW) Holdings Reduced by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,796 shares of the home improvement retailer’s stock after selling 2,615 shares during the quarter. Lowe’s Companies accounts for about 2.4% of Salem Investment Counselors Inc.’s portfolio, making the stock its 5th largest position. Salem Investment Counselors Inc.’s holdings in Lowe’s Companies were worth $22,621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of LOW. SRS Capital Advisors Inc. boosted its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after acquiring an additional 5 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in Lowe’s Companies by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 3,346 shares of the home improvement retailer’s stock valued at $275,000 after acquiring an additional 13 shares in the last quarter. Winfield Associates Inc. boosted its stake in Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after acquiring an additional 15 shares in the last quarter. Modera Wealth Management LLC boosted its stake in Lowe’s Companies by 0.3% in the first quarter. Modera Wealth Management LLC now owns 4,927 shares of the home improvement retailer’s stock valued at $405,000 after acquiring an additional 15 shares in the last quarter. Finally, First Personal Financial Services boosted its stake in Lowe’s Companies by 0.3% in the first quarter. First Personal Financial Services now owns 8,067 shares of the home improvement retailer’s stock valued at $663,000 after acquiring an additional 21 shares in the last quarter. 74.32% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Lowe’s Companies, Inc. (LOW) traded down 0.60% during mid-day trading on Friday, reaching $77.99. 14,518,162 shares of the company were exchanged. The firm has a market capitalization of $64.95 billion, a PE ratio of 24.45 and a beta of 1.07. The company’s 50 day moving average price is $76.21 and its 200 day moving average price is $79.61. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a yield of 2.10%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.

LOW has been the subject of several research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $89.00 price objective on shares of Lowe’s Companies in a research note on Thursday, July 20th. Zacks Investment Research upgraded shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $83.00 target price (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Longbow Research reaffirmed a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a report on Monday, August 14th. Finally, Morgan Stanley reduced their target price on shares of Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating for the company in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Lowe’s Companies has an average rating of “Hold” and a consensus price target of $85.00.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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