Voya Investment Management LLC Cuts Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Voya Investment Management LLC cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 857,152 shares of the home improvement retailer's stock after selling 831,610 shares during the period. Voya Investment Management LLC owned about 0.15% of Lowe's Companies worth $211,404,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. 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 lifted its stake in shares of Lowe's Companies by 288.6% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake 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 worth $98,104,000 after buying an additional 4,435 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings 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 valued at $4,894,000 after acquiring an additional 501 shares during the period. Finally, World Investment Advisors boosted its stake in shares of Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after acquiring an additional 2,615 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of LOW stock traded up $0.22 during trading hours on Monday, reaching $221.13. The company had a trading volume of 2,046,644 shares, compared to its average volume of 2,475,830. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The company has a market capitalization of $123.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.96 and a beta of 1.07. The stock has a fifty day moving average of $229.29 and a 200-day moving average of $250.63.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, analysts forecast 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. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research analyst reports. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Piper Sandler dropped their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Royal Bank of Canada dropped 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. Truist Financial reduced their target price on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America dropped their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $278.21.

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.