Lafayette Investments Inc. Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Lafayette Investments Inc. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,198 shares of the home improvement retailer’s stock after selling 205 shares during the period. Lowe’s Companies comprises approximately 2.5% of Lafayette Investments Inc.’s investment portfolio, making the stock its 11th biggest position. Lafayette Investments Inc.’s holdings in Lowe’s Companies were worth $11,649,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Klingenstein Fields & Co. LP lifted its stake in shares of Lowe’s Companies by 1.0% during the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after purchasing an additional 39 shares during the last quarter. Powers Advisory Group LLC lifted its position in shares of Lowe’s Companies by 2.7% during the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock valued at $380,000 after buying an additional 40 shares during the last quarter. Saxony Capital Management LLC grew its position in shares of Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after buying an additional 40 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in Lowe’s Companies by 0.3% in the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock worth $3,705,000 after purchasing an additional 41 shares during the last quarter. Finally, O Brien Greene & Co. Inc increased its position in shares of Lowe’s Companies by 1.5% during the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock worth $715,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial lowered their price objective on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America dropped 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 research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.74.

Lowe’s Companies Trading Up 1.8 %

Shares of LOW opened at $224.25 on Tuesday. The firm has a market cap of $125.51 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The company’s 50-day moving average price is $235.57 and its 200 day moving average price is $253.99. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is 37.67%.

About Lowe’s Companies

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.