Corebridge Financial Inc. Sells 9,691 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Corebridge Financial Inc. cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,027 shares of the home improvement retailer's stock after selling 9,691 shares during the period. Corebridge Financial Inc.'s holdings in Lowe's Companies were worth $36,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Klingenstein Fields & Co. LP increased its holdings in Lowe's Companies by 1.0% in the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer's stock valued at $1,012,000 after purchasing an additional 39 shares in the last quarter. Powers Advisory Group LLC boosted its position in shares of Lowe's Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer's stock worth $380,000 after buying an additional 40 shares during the period. Saxony Capital Management LLC grew its stake in shares of Lowe's Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer's stock valued at $245,000 after buying an additional 40 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in shares of Lowe's Companies by 0.3% during the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer's stock valued at $3,705,000 after buying an additional 41 shares during the period. Finally, O Brien Greene & Co. Inc lifted its position in Lowe's Companies by 1.5% during the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer's stock worth $715,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

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Lowe's Companies Trading Down 1.0 %

NYSE LOW traded down $2.28 during trading on Tuesday, reaching $230.61. 2,476,794 shares of the company's stock were exchanged, compared to its average volume of 2,280,569. The firm has a market capitalization of $130.21 billion, a PE ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe's Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company's fifty day simple moving average is $247.26 and its 200-day simple moving average is $257.71.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $18.29 billion. Equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

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

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research note on Thursday, December 12th. Bank of America decreased their price objective on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, December 12th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their price objective on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies 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.