Mitsubishi UFJ Asset Management Co. Ltd. Acquires 76,055 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.0% during the 4th quarter, HoldingsChannel reports. The fund owned 924,385 shares of the home improvement retailer’s stock after purchasing an additional 76,055 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $229,691,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. IFS Advisors LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Lowe’s Companies during the third quarter valued at $27,000. Winch Advisory Services LLC grew its stake in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at about $44,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Mizuho lowered their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Piper Sandler reduced their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Sanford C. Bernstein lifted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Price Performance

NYSE:LOW opened at $231.91 on Thursday. The business has a 50 day simple moving average of $246.76 and a 200 day simple moving average of $257.53. The firm has a market capitalization of $130.95 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01.

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

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

Lowe’s Companies Company 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.