Millstone Evans Group LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Millstone Evans Group LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178 shares of the home improvement retailer’s stock, valued at approximately $44,000.

A number of other large investors also recently made changes to their positions in the company. United Bank grew its holdings in shares of Lowe’s Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after acquiring an additional 137 shares in the last quarter. Pacer Advisors Inc. grew its stake in Lowe’s Companies by 2.9% in the 3rd quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer’s stock valued at $11,448,000 after purchasing an additional 1,175 shares during the period. Eagle Asset Management Inc. increased its position in shares of Lowe’s Companies by 3.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock valued at $3,748,000 after purchasing an additional 399 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Lowe’s Companies by 19.0% during the 3rd quarter. Cerity Partners LLC now owns 210,662 shares of the home improvement retailer’s stock worth $57,058,000 after purchasing an additional 33,686 shares during the period. Finally, Lane & Associates LLC purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth about $370,000. 74.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on LOW. Piper Sandler decreased their price objective on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Guggenheim restated a “buy” rating and set a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Bank of America decreased their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $227.09 on Monday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market cap of $128.23 billion, a P/E ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12. The firm’s fifty day moving average price is $247.99 and its 200-day moving average price is $257.88.

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

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.03%. Lowe’s Companies’s payout ratio is presently 37.67%.

About Lowe’s Companies

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.