iA Global Asset Management Inc. Has $4.59 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

iA Global Asset Management Inc. grew its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,582 shares of the home improvement retailer's stock after purchasing an additional 3,670 shares during the period. iA Global Asset Management Inc.'s holdings in Lowe's Companies were worth $4,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC boosted its stake in Lowe's Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock valued at $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Lowe's Companies in the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC boosted its stake in shares of Lowe's Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Amundi grew its holdings in shares of Lowe's Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after purchasing an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in Lowe's Companies by 42,529.8% during the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock worth $208,843,000 after purchasing an additional 844,217 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOW. Royal Bank of Canada cut their target price on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, February 26th. Truist Financial reduced their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Mizuho dropped 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. Finally, StockNews.com cut Lowe's Companies from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $279.71.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded down $2.28 on Tuesday, reaching $230.61. 2,476,794 shares of the company's stock were exchanged, compared to its average volume of 2,279,546. The company has a market capitalization of $130.21 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Lowe's Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The firm's 50-day moving average is $247.67 and its two-hundred day moving average is $257.80.

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 business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

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.