Advent Capital Management DE Buys Shares of 15,000 Lowe's Companies, Inc. (NYSE:LOW)

Advent Capital Management DE purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the home improvement retailer's stock, valued at approximately $3,702,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in Lowe's Companies in the fourth quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. bought a new stake in Lowe's Companies in the 4th quarter valued at $314,435,000. Strategic Financial Concepts LLC boosted its stake in Lowe's Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Amundi increased its holdings in Lowe's Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock worth $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Lowe's Companies by 42,529.8% during the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock worth $208,843,000 after purchasing an additional 844,217 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LOW shares. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. DA Davidson reaffirmed a "neutral" rating and set a $270.00 price target on shares of Lowe's Companies in a research note on Wednesday. Piper Sandler cut their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Truist Financial decreased their target price on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus target price of $278.74.

Lowe's Companies Price Performance

Lowe's Companies stock traded up $4.60 during midday trading on Friday, hitting $219.01. The company's stock had a trading volume of 2,166,819 shares, compared to its average volume of 2,469,826. The company has a 50-day moving average price of $233.35 and a two-hundred day moving average price of $253.13. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The company has a market cap of $122.58 billion, a price-to-earnings ratio of 18.27, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion during 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%. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is currently 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.