Lord Abbett & CO. LLC Raises Position in Lowe's Companies, Inc. (NYSE:LOW)

Lord Abbett & CO. LLC lifted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 833,046 shares of the home improvement retailer's stock after acquiring an additional 44,033 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.15% of Lowe's Companies worth $205,596,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LOW. Principal Financial Group Inc. grew its position in Lowe's Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock valued at $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC grew its position in Lowe's Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock valued at $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Lowe's Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock worth $98,104,000 after purchasing an additional 4,435 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in Lowe's Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after purchasing an additional 501 shares during the period. Finally, World Investment Advisors boosted its position in Lowe's Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after purchasing an additional 2,615 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

NYSE LOW traded up $0.22 during trading on Monday, hitting $221.13. 2,046,652 shares of the company's stock traded hands, compared to its average volume of 2,475,831. The stock has a fifty day moving average of $229.29 and a two-hundred day moving average of $250.63. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The firm has a market cap of $123.77 billion, a P/E ratio of 18.44, a PEG ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share 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 analyst estimates 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, 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 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.08%. Lowe's Companies's dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LOW shares. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. 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 for the company in a research report on Thursday, February 27th. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Piper Sandler cut their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Truist Financial cut their target price on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $278.21.

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.