Royal London Asset Management Ltd. Acquires 7,989 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Royal London Asset Management Ltd. grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 248,515 shares of the home improvement retailer's stock after purchasing an additional 7,989 shares during the period. Royal London Asset Management Ltd.'s holdings in Lowe's Companies were worth $61,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank increased its holdings in shares of Lowe's Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock worth $2,735,000 after acquiring an additional 137 shares in the last quarter. Prospera Private Wealth LLC grew its position in shares of Lowe's Companies by 40.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 1,283 shares of the home improvement retailer's stock valued at $348,000 after purchasing an additional 368 shares during the period. Strategy Asset Managers LLC increased its stake in Lowe's Companies by 8.8% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,689 shares of the home improvement retailer's stock worth $457,000 after purchasing an additional 136 shares in the last quarter. Jennison Associates LLC raised its holdings in Lowe's Companies by 23.7% during the 3rd quarter. Jennison Associates LLC now owns 193,672 shares of the home improvement retailer's stock worth $52,456,000 after buying an additional 37,162 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Lowe's Companies by 1.6% in the third quarter. First Horizon Advisors Inc. now owns 13,779 shares of the home improvement retailer's stock valued at $3,732,000 after buying an additional 215 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Remove Ads

Lowe's Companies Stock Performance

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

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LOW shares. Stifel Nicolaus increased their price objective on shares of Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. StockNews.com cut Lowe's Companies from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Piper Sandler cut their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday. Bank of America decreased their price objective on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Evercore ISI lifted their target price on Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $279.71.

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.