Gabelli Funds LLC Sells 4,875 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Gabelli Funds LLC lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,160 shares of the home improvement retailer's stock after selling 4,875 shares during the quarter. Gabelli Funds LLC's holdings in Lowe's Companies were worth $10,158,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Montag & Caldwell LLC lifted its holdings in Lowe's Companies by 17.4% during the 4th quarter. Montag & Caldwell LLC now owns 55,861 shares of the home improvement retailer's stock valued at $13,786,000 after purchasing an additional 8,275 shares during the last quarter. Jump Financial LLC raised its holdings in Lowe's Companies by 54.8% in the 4th quarter. Jump Financial LLC now owns 8,560 shares of the home improvement retailer's stock valued at $2,113,000 after acquiring an additional 3,032 shares during the period. Anchor Investment Management LLC lifted its position in Lowe's Companies by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 45,663 shares of the home improvement retailer's stock worth $11,270,000 after acquiring an additional 126 shares during the last quarter. Rench Wealth Management Inc. boosted its holdings in shares of Lowe's Companies by 1.9% during the fourth quarter. Rench Wealth Management Inc. now owns 18,893 shares of the home improvement retailer's stock worth $4,663,000 after acquiring an additional 346 shares during the period. Finally, AGP Franklin LLC acquired a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $494,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

LOW stock traded down $6.46 during trading on Monday, hitting $212.54. 308,109 shares of the company traded hands, compared to its average volume of 2,462,837. The company has a 50-day moving average of $232.59 and a 200-day moving average of $252.50. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm has a market capitalization of $118.96 billion, a PE ratio of 17.73, a P/E/G ratio of 1.96 and a beta of 1.07.

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

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.16%. Lowe's Companies's dividend payout ratio is presently 37.67%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent research reports. Piper Sandler lowered their price target 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. Mizuho decreased their price target on 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. Bank of America reduced 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 note on Thursday, February 27th. DA Davidson restated a "neutral" rating and issued a $270.00 target price on shares of Lowe's Companies in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price target on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $278.74.

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.