Lazard Asset Management LLC Has $46 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lazard Asset Management LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,579 shares of the home improvement retailer’s stock after selling 1,326 shares during the quarter. Lazard Asset Management LLC’s holdings in Lowe’s Companies were worth $45,997,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $25,000. Tidemark LLC bought a new position in Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies during the fourth quarter worth $28,000. Keener Financial Planning LLC bought a new position in Lowe’s Companies during the first quarter worth $35,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $31,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of a number of recent research reports. DA Davidson dropped their price objective 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 Wednesday, May 22nd. Citigroup dropped their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Gordon Haskett reissued a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Zelman & Associates reissued a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $250.04.

Lowe’s Companies Price Performance

Shares of LOW traded up $4.10 during trading hours on Friday, hitting $238.87. The company’s stock had a trading volume of 1,942,530 shares, compared to its average volume of 2,878,763. The company has a market cap of $136.12 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.83 and a beta of 1.08. The business has a 50 day simple moving average of $223.92 and a two-hundred day simple moving average of $229.47. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company earned $3.67 earnings per share. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s payout ratio is presently 36.95%.

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.