Abacus FCF Advisors LLC Acquires 9,424 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Abacus FCF Advisors LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 46.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,763 shares of the home improvement retailer's stock after acquiring an additional 9,424 shares during the quarter. Lowe's Companies makes up approximately 1.0% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 29th largest position. Abacus FCF Advisors LLC's holdings in Lowe's Companies were worth $7,346,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LOW. IFS Advisors LLC acquired a new stake in Lowe's Companies in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe's Companies in the 3rd quarter valued at $27,000. Winch Advisory Services LLC boosted its holdings in shares of Lowe's Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. Marshall Investment Management LLC bought a new stake in Lowe's Companies during the 4th quarter worth $31,000. Finally, Caisse Des Depots ET Consignations acquired a new position in Lowe's Companies in the 4th quarter worth about $33,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on LOW shares. Piper Sandler reduced their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, February 26th. StockNews.com downgraded Lowe's Companies from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Royal Bank of Canada cut their target price on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Finally, Mizuho lowered their price objective on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $278.74.

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Lowe's Companies Stock Performance

NYSE:LOW traded down $1.09 on Friday, hitting $220.11. The stock had a trading volume of 2,903,271 shares, compared to its average volume of 2,462,266. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm's fifty day simple moving average is $236.25 and its two-hundred day simple moving average is $254.37. The stock has a market cap of $123.20 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently disclosed 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 yield of 2.09%. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

About Lowe's Companies

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.