Canada Pension Plan Investment Board Has $64.97 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Canada Pension Plan Investment Board lifted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,239 shares of the home improvement retailer's stock after buying an additional 55,446 shares during the period. Canada Pension Plan Investment Board's holdings in Lowe's Companies were worth $64,967,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. GKV Capital Management Co. Inc. purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $99,000. Foster Dykema Cabot & Partners LLC boosted its stake in shares of Lowe's Companies by 2.5% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 83,344 shares of the home improvement retailer's stock valued at $20,569,000 after buying an additional 2,060 shares during the last quarter. Capital Square LLC increased its stake in shares of Lowe's Companies by 4.6% in the fourth quarter. Capital Square LLC now owns 5,751 shares of the home improvement retailer's stock worth $1,508,000 after buying an additional 255 shares during the last quarter. Advent Capital Management DE acquired a new stake in Lowe's Companies in the fourth quarter valued at $3,702,000. Finally, Cravens & Co Advisors LLC boosted its stake in Lowe's Companies by 1.4% during the 4th quarter. Cravens & Co Advisors LLC now owns 4,088 shares of the home improvement retailer's stock valued at $1,009,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

LOW traded up $1.57 during mid-day trading on Wednesday, hitting $219.49. The stock had a trading volume of 723,735 shares, compared to its average volume of 2,467,040. The stock's fifty day simple moving average is $231.16 and its 200-day simple moving average is $251.89. The firm has a market capitalization of $122.85 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results 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 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%. As a group, research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho decreased their target price 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. Bank of America lowered their target price on shares of 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. Royal Bank of Canada lowered their price objective on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Truist Financial dropped their target price on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.74.

Lowe's Companies Company 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.