Pictet Asset Management Holding SA Sells 15,034 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pictet Asset Management Holding SA reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 733,037 shares of the home improvement retailer’s stock after selling 15,034 shares during the period. Pictet Asset Management Holding SA’s holdings in Lowe’s Companies were worth $180,914,000 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 position in Lowe’s Companies in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at $27,000. Winch Advisory Services LLC lifted its position in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC bought a new position in Lowe’s Companies during the fourth quarter worth $31,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in Lowe’s Companies in the fourth quarter worth $33,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. Mizuho dropped their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada dropped their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Bank of America lowered their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Truist Financial reduced their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $279.71.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $228.20 on Friday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a market capitalization of $127.73 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The business has a fifty day moving average price of $245.57 and a two-hundred day moving average price of $257.24.

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

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

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.