United Bank Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

United Bank boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,113 shares of the home improvement retailer’s stock after purchasing an additional 1,014 shares during the period. Lowe’s Companies makes up approximately 1.2% of United Bank’s holdings, making the stock its 28th largest position. United Bank’s holdings in Lowe’s Companies were worth $2,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. IFS Advisors LLC bought a new stake in Lowe’s Companies during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC boosted its position in Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares during the period. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth $31,000. Finally, Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $228.20 on Friday. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The company has a market capitalization of $127.73 billion, a PE ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12. The company’s 50 day moving average price is $245.57 and its 200 day moving average price is $257.31.

Lowe’s Companies (NYSE:LOW) last announced its quarterly 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. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. Sanford C. Bernstein increased their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Evercore ISI upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Piper Sandler lowered their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $300.00 target price 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, ten have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $279.71.

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.