Lowe’s Companies, Inc. (NYSE:LOW) Position Cut by Premier Fund Managers Ltd

Premier Fund Managers Ltd lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,700 shares of the home improvement retailer’s stock after selling 17,738 shares during the quarter. Lowe’s Companies makes up approximately 2.3% of Premier Fund Managers Ltd’s portfolio, making the stock its 10th biggest position. Premier Fund Managers Ltd’s holdings in Lowe’s Companies were worth $63,566,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LOW. United Bank increased its stake in Lowe’s Companies by 1.4% in the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after purchasing an additional 137 shares in the last quarter. Blueshift Asset Management LLC raised its stake in shares of Lowe’s Companies by 13.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 2,770 shares of the home improvement retailer’s stock worth $750,000 after buying an additional 324 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Lowe’s Companies by 101.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 150,000 shares of the home improvement retailer’s stock worth $40,628,000 after buying an additional 75,500 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Lowe’s Companies by 18.5% in the third quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock valued at $3,343,000 after purchasing an additional 1,924 shares during the last quarter. Finally, Fiduciary Trust Co increased its position in Lowe’s Companies by 3.3% during the third quarter. Fiduciary Trust Co now owns 69,961 shares of the home improvement retailer’s stock worth $18,949,000 after buying an additional 2,216 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Truist Financial dropped their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus increased their target price on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Guggenheim reiterated a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Bank of America lowered their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $279.71.

Lowe’s Companies Stock Performance

LOW opened at $232.35 on Friday. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The business has a 50 day moving average price of $246.24 and a 200 day moving average price of $257.35. The firm has a market cap of $130.05 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Dividend Announcement

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

Lowe’s Companies 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.