Allstate Corp Purchases Shares of 16,803 Lowe's Companies, Inc. (NYSE:LOW)

Allstate Corp acquired a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,803 shares of the home improvement retailer's stock, valued at approximately $4,147,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Bank raised its holdings in Lowe's Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock worth $2,735,000 after purchasing an additional 137 shares during the period. Vinva Investment Management Ltd lifted its holdings in Lowe's Companies by 2.3% during the third quarter. Vinva Investment Management Ltd now owns 6,059 shares of the home improvement retailer's stock worth $1,619,000 after acquiring an additional 134 shares in the last quarter. Isthmus Partners LLC grew its stake in Lowe's Companies by 0.8% in the third quarter. Isthmus Partners LLC now owns 47,932 shares of the home improvement retailer's stock valued at $12,982,000 after acquiring an additional 382 shares during the period. Providence Wealth Advisors LLC increased its holdings in shares of Lowe's Companies by 1.9% in the third quarter. Providence Wealth Advisors LLC now owns 7,355 shares of the home improvement retailer's stock worth $1,994,000 after acquiring an additional 135 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of Lowe's Companies by 8.6% during the 3rd quarter. Icon Wealth Advisors LLC now owns 4,567 shares of the home improvement retailer's stock valued at $1,237,000 after purchasing an additional 361 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

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Lowe's Companies Price Performance

Shares of Lowe's Companies stock traded up $4.96 on Monday, hitting $233.38. 3,464,691 shares of the company's stock traded hands, compared to its average volume of 2,422,420. The company has a market capitalization of $130.62 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a fifty day moving average of $245.57 and a two-hundred day moving average of $257.38. Lowe's Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

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

Lowe's Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given 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 1.97%. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LOW shares. Evercore ISI increased their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research report on Thursday, December 12th. Bank of America cut their price objective on shares of 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. Piper Sandler decreased their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Sanford C. Bernstein boosted their price target on shares of Lowe's Companies from $301.00 to $304.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $279.71.

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.