Synovus Financial Corp Has $9.05 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Synovus Financial Corp reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,644 shares of the home improvement retailer's stock after selling 12,829 shares during the period. Synovus Financial Corp's holdings in Lowe's Companies were worth $9,047,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. IFS Advisors LLC bought a new position in Lowe's Companies in the fourth quarter valued at $25,000. Winch Advisory Services LLC raised its holdings in Lowe's Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock worth $30,000 after acquiring an additional 44 shares in the last quarter. Marshall Investment Management LLC acquired a new position in Lowe's Companies during the fourth quarter valued at approximately $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe's Companies in the fourth quarter valued at approximately $33,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded down $3.68 during trading on Tuesday, reaching $220.46. 2,804,710 shares of the company's stock were exchanged, compared to its average volume of 2,468,326. The firm's 50-day moving average price is $234.86 and its 200 day moving average price is $253.76. The company has a market cap of $123.40 billion, a P/E ratio of 18.39, a PEG ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.

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Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to analysts' expectations 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, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.09%. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. Mizuho decreased 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. Truist Financial decreased their price objective 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. Bank of America cut their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada lowered their price target on 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. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.