Franklin Resources Inc. Acquires 66,300 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Franklin Resources Inc. grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,369,942 shares of the home improvement retailer's stock after purchasing an additional 66,300 shares during the quarter. Franklin Resources Inc. owned about 0.60% of Lowe's Companies worth $831,702,000 at the end of the most recent quarter.

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

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Lowe's Companies Trading Up 0.2 %

NYSE:LOW traded up $0.49 during trading hours on Tuesday, reaching $233.72. The company had a trading volume of 2,212,750 shares, compared to its average volume of 2,421,822. The firm has a market cap of $130.82 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.96 and a beta of 1.12. The firm's 50 day moving average price is $244.40 and its 200-day moving average price is $257.09. Lowe's Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued 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 analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently declared 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. This represents a $4.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's payout ratio is currently 37.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LOW. Piper Sandler dropped their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Truist Financial dropped their price objective on shares of Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Bank of America decreased 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. Guggenheim reissued a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research report on Thursday, December 12th. Finally, BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $279.71.

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.