Federated Hermes Inc. Sells 39,911 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Federated Hermes Inc. reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 57.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,507 shares of the home improvement retailer's stock after selling 39,911 shares during the period. Federated Hermes Inc.'s holdings in Lowe's Companies were worth $7,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LOW. Principal Financial Group Inc. increased its holdings in Lowe's Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock worth $175,944,000 after purchasing an additional 24,812 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Lowe's Companies by 288.6% in the 4th 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 grew its position in Lowe's Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of 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 valued at $4,894,000 after buying an additional 501 shares during the last quarter. Finally, World Investment Advisors lifted its stake in Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after acquiring an additional 2,615 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

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Lowe's Companies Price Performance

Lowe's Companies stock traded down $2.05 during mid-day trading on Tuesday, reaching $222.09. 631,290 shares of the stock traded hands, compared to its average volume of 2,457,729. The stock has a market capitalization of $124.31 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The business's 50-day moving average is $235.57 and its 200-day moving average is $253.99. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Equities analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal 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 $1.15 dividend. 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 2.07%. Lowe's Companies's dividend payout ratio is presently 37.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial decreased their target price on 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. Royal Bank of Canada decreased their target price on 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. Mizuho reduced their target price on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Tuesday. Finally, BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and an average price target 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.