Adage Capital Partners GP L.L.C. Purchases 112,795 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Adage Capital Partners GP L.L.C. raised its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 21.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 643,905 shares of the home improvement retailer's stock after acquiring an additional 112,795 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Lowe's Companies worth $158,916,000 as of its most recent filing with the SEC.

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

Lowe's Companies Stock Up 2.9 %

Shares of NYSE:LOW opened at $219.03 on Wednesday. The company has a market capitalization of $122.59 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The firm has a 50 day moving average of $231.16 and a 200 day moving average of $251.89. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.10%. Lowe's Companies's dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

Several research firms have commented on LOW. Piper Sandler decreased their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Mizuho dropped their price target on Lowe's Companies from $305.00 to $300.00 and set an "outperform" 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 on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Tuesday, April 15th. Finally, DA Davidson reissued a "neutral" rating and issued a $270.00 price target on shares of Lowe's Companies in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $278.74.

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.

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