Versor Investments LP purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,500 shares of the home improvement retailer’s stock, valued at approximately $299,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Axiom Financial Strategies LLC lifted its stake in Lowe’s Companies by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after buying an additional 123 shares in the last quarter. United Bank raised its holdings in Lowe’s Companies by 6.8% in the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after acquiring an additional 617 shares during the last quarter. Prudential PLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $1,629,000. Baird Financial Group Inc. raised its holdings in Lowe’s Companies by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after acquiring an additional 920 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Lowe’s Companies by 74.6% in the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after acquiring an additional 126 shares during the last quarter. 72.62% of the stock is owned by hedge funds and other institutional investors.
Lowe’s Companies Stock Up 0.4 %
NYSE:LOW opened at $202.18 on Friday. The company has a fifty day simple moving average of $201.48 and a two-hundred day simple moving average of $201.43. The company has a market cap of $120.57 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Lowe’s Companies, Inc. has a 52 week low of $170.12 and a 52 week high of $223.31.
Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 EPS for the quarter, topping the consensus estimate of $2.21 by $0.07. The business had revenue of $22.40 billion during the quarter, compared to the consensus estimate of $22.71 billion. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, analysts expect that Lowe’s Companies, Inc. will post 13.84 EPS for the current year.
Lowe’s Companies Announces Dividends
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, April 25th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.08%. Lowe’s Companies’s payout ratio is currently 41.96%.
Analyst Ratings Changes
LOW has been the subject of a number of recent research reports. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Robert W. Baird cut their price objective on shares of Lowe’s Companies from $250.00 to $235.00 in a report on Wednesday, March 1st. Citigroup cut their price objective on shares of Lowe’s Companies from $215.00 to $210.00 in a report on Friday, March 3rd. Truist Financial cut their price target on shares of Lowe’s Companies from $258.00 to $235.00 in a report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating for the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $223.85.
Insider Buying and Selling
In related news, EVP Donald Frieson sold 9,411 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the transaction, the executive vice president now owns 17,888 shares in the company, valued at $3,523,936. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.
About Lowe’s Companies
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Lowe’s Cos., Inc. engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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