Meeder Asset Management Inc. Buys 1,343 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,172 shares of the home improvement retailer’s stock after purchasing an additional 1,343 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lowe’s Companies were worth $6,212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LOW. State Street Corp grew its holdings in Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares in the last quarter. Geode Capital Management LLC grew its stake in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after acquiring an additional 187,473 shares in the last quarter. Norges Bank bought a new stake in Lowe’s Companies during the 4th quarter worth approximately $1,842,954,000. Bank of New York Mellon Corp increased its holdings in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after acquiring an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Lowe’s Companies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after purchasing an additional 90,012 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. Truist Financial decreased 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 report on Thursday, February 27th. Bank of America lowered their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada cut their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Stock Down 1.7 %

Shares of Lowe’s Companies stock opened at $228.20 on Monday. The company’s fifty day simple moving average is $245.57 and its two-hundred day simple moving average is $257.38. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The firm has a market cap of $127.73 billion, a PE 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 posted its earnings results 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 company had revenue of $18.55 billion for 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 expect 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 announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors 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 2.02%. Lowe’s Companies’s dividend payout ratio 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.