Allianz SE Invests $9.15 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Allianz SE bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, HoldingsChannel.com reports. The fund bought 37,096 shares of the home improvement retailer’s stock, valued at approximately $9,153,000.

Several other large investors have also added to or reduced their stakes in the company. Klingenstein Fields & Co. LP raised its stake in shares of Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after purchasing an additional 39 shares during the last quarter. Saxony Capital Management LLC increased its holdings in Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after buying an additional 40 shares during the period. Powers Advisory Group LLC raised its position in Lowe’s Companies by 2.7% during the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after buying an additional 40 shares during the last quarter. Cordatus Wealth Management LLC lifted its stake in Lowe’s Companies by 0.3% during the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after acquiring an additional 41 shares during the period. Finally, O Brien Greene & Co. Inc boosted its holdings in shares of Lowe’s Companies by 1.5% in the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LOW. Stifel Nicolaus increased their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Truist Financial cut their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada decreased their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.71.

Lowe’s Companies Price Performance

NYSE LOW opened at $228.20 on Friday. The firm’s fifty day moving average price is $245.57 and its 200 day moving average price is $257.24. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The company has a market capitalization of $127.73 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Announces Dividend

The company also recently disclosed 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. 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 2.02%. Lowe’s Companies’s payout ratio 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.