Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,386 shares of the home improvement retailer's stock after buying an additional 4,280 shares during the quarter. Martingale Asset Management L P's holdings in Lowe's Companies were worth $4,291,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Lowe's Companies in the fourth quarter valued at $1,842,954,000. Raymond James Financial Inc. acquired a new position in shares of Lowe's Companies in the 4th quarter valued at about $314,435,000. Strategic Financial Concepts LLC grew its holdings in Lowe's Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after acquiring an additional 1,223,116 shares during the period. Amundi raised its position in Lowe's Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after acquiring an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Lowe's Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after acquiring an additional 844,217 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

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Lowe's Companies Stock Performance

Shares of LOW stock traded up $2.83 on Monday, hitting $223.18. 657,099 shares of the stock traded hands, compared to its average volume of 2,641,243. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The firm's 50-day moving average price is $236.25 and its two-hundred day moving average price is $254.29. The stock has a market capitalization of $124.92 billion, a PE ratio of 18.61, a PEG ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The business 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%. On average, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given 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 2.06%. Lowe's Companies's dividend payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LOW shares. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Mizuho lowered their target price on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. StockNews.com downgraded Lowe's Companies from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Bank of America cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.