Neo Ivy Capital Management Has $7.85 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

by · The Cerbat Gem

Neo Ivy Capital Management boosted its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 731.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,803 shares of the home improvement retailer’s stock after acquiring an additional 27,979 shares during the quarter. Lowe’s Companies comprises approximately 1.6% of Neo Ivy Capital Management’s portfolio, making the stock its 9th largest holding. Neo Ivy Capital Management’s holdings in Lowe’s Companies were worth $7,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Lowe’s Companies in the fourth quarter valued at approximately $1,842,954,000. Kovitz Investment Group Partners LLC lifted its stake in Lowe’s Companies by 350.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth $314,435,000. Strategic Financial Concepts LLC lifted its position in shares of Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after acquiring an additional 1,223,116 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $223.74 on Friday. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.96 and a beta of 1.00. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm has a fifty day moving average price of $224.65 and a 200-day moving average price of $245.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.06 EPS. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Lowe’s Companies from $270.00 to $250.00 and set a “hold” rating on the stock in a research report on Monday. Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday. Morgan Stanley dropped their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company dropped their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $271.52.

View Our Latest Stock Analysis on LOW

Lowe’s Companies 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 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.

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