Burling Wealth Partners LLC Makes New Investment in Lowe's Companies, Inc. (NYSE:LOW)

Burling Wealth Partners LLC bought a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,888 shares of the home improvement retailer's stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC lifted its stake in Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lowe's Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Norges Bank acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $1,842,954,000. Bank of New York Mellon Corp lifted its position in Lowe's Companies by 10.2% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lowe's Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock worth $853,697,000 after buying an additional 90,012 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

Shares of LOW stock traded up $0.22 during trading hours on Monday, reaching $221.13. 2,046,652 shares of the stock were exchanged, compared to its average volume of 2,475,831. The business's fifty day moving average is $229.29 and its two-hundred day moving average is $250.63. The firm has a market capitalization of $123.77 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month 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 earnings per share for the quarter, beating 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 net margin of 8.19% and a negative return on equity of 47.55%. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.08%. Lowe's Companies's dividend payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Truist Financial reduced their price target on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Mizuho reduced their price target on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America cut their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $278.21.

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.