Envestnet Asset Management Inc. Has $383.82 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Envestnet Asset Management Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555,181 shares of the home improvement retailer’s stock after selling 50,338 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Lowe’s Companies worth $383,819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFS Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Lowe’s Companies during the third quarter worth about $27,000. Winch Advisory Services LLC grew its stake in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares during the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth approximately $31,000. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $33,000. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America cut their price target 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. Truist Financial decreased their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. One research analyst has 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $280.35.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $223.05 on Friday. The stock has a 50-day moving average of $242.39 and a 200-day moving average of $256.46. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The stock has a market cap of $124.84 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS 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. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.06%. 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.