Hennion & Walsh Asset Management Inc. has $1.48M stake in Lowe’s Companies, Inc. (NYSE:LOW)

Hennion & Walsh Asset Management Inc. reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 20.0% in the second quarter, Holdings Channel reports. The fund owned 6,722 shares of the home improvement retailer’s stock after selling 1,681 shares during the period. Holdings of Hennion & Walsh Asset Management Inc. in Lowe’s Companies were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the fourth quarter valued at approximately $25,000. Tidemark LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter valued at $31,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 74.06% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages have commented on LOW. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Citigroup cut their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $250.19, according to MarketBeat.

Get the latest Lowe’s companies analysis

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $243.19 on Tuesday. The stock has a 50-day moving average price of $230.39 and a 200-day moving average price of $232.04. The stock has a market cap of $138.58 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. it has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW – Get Your Free Report ) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion for 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 for the quarter was down 4.4% year over year. In the same period last year, the company earned $3.67 per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies is cutting dividends

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 24. This represents an annualized dividend of $0.60 and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Lowe’s Companies Company Profile

(Free report)

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of construction, maintenance, repair, remodeling and decorating products. Also offers home improvement products such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchen and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials , decoration and electricity.

See Also

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Lowe’s Companies, Inc. (NYSE:LOW – Free Report).

Get daily news and ratings for Lowe’s businesses – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lowe’s and related companies with MarketBeat.com’s FREE daily email newsletter.