2,348 Shares in Lowe's Companies, Inc. (NYSE:LOW) Bought by Partners in Financial Planning

Partners in Financial Planning acquired a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,348 shares of the home improvement retailer's stock, valued at approximately $579,000.

Several other hedge funds have also recently made changes to their positions in the stock. 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 boosted 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 worth $3,169,041,000 after buying an additional 187,473 shares during the period. Norges Bank purchased a new stake in Lowe's Companies in the 4th quarter worth about $1,842,954,000. Bank of New York Mellon Corp raised its holdings in shares of Lowe's Companies by 10.2% in the fourth 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 buying an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 acquiring an additional 90,012 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Lowe's Companies from a "buy" rating to a "hold" rating in a report on Thursday. Bank of America cut their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Truist Financial reduced their price target on shares of 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. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $280.35.

Lowe's Companies Trading Up 0.2 %

Shares of Lowe's Companies stock traded up $0.53 during midday trading on Friday, reaching $223.05. The company had a trading volume of 4,829,634 shares, compared to its average volume of 2,435,896. The stock has a fifty day simple moving average of $242.39 and a 200 day simple moving average of $256.47. The company has a market capitalization of $124.84 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe's Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01.

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

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, April 23rd. 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.