Meeder Asset Management Inc. boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,172 shares of the home improvement retailer's stock after acquiring an additional 1,343 shares during the quarter. Meeder Asset Management Inc.'s holdings in Lowe's Companies were worth $6,212,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. United Bank increased its position in shares of Lowe's Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock valued at $2,735,000 after buying an additional 137 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Lowe's Companies in the 3rd quarter valued at about $2,073,000. Cobblestone Capital Advisors LLC NY increased its holdings in Lowe's Companies by 27.1% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 3,838 shares of the home improvement retailer's stock valued at $1,040,000 after acquiring an additional 818 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Lowe's Companies during the third quarter worth about $5,976,000. Finally, B&L Asset Management LLC purchased a new stake in shares of Lowe's Companies in the third quarter valued at about $778,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
Lowe's Companies Stock Up 0.2 %
Shares of NYSE LOW traded up $0.49 during midday trading on Tuesday, hitting $233.72. The stock had a trading volume of 2,212,750 shares, compared to its average volume of 2,421,822. Lowe's Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company has a market capitalization of $130.82 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.96 and a beta of 1.12. The company has a fifty day moving average price of $244.40 and a 200 day moving average price of $257.09.
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 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 analysts' expectations of $18.29 billion. On average, research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.
Lowe's Companies Dividend Announcement
The business also recently disclosed 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. This represents a $4.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Mizuho dropped their price objective 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. 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 report on Monday, March 24th. Sanford C. Bernstein increased their price objective on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, February 26th. Finally, Wedbush restated a "neutral" rating and issued a $250.00 target price on shares of Lowe's Companies in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $279.71.
Check Out Our Latest Research Report on LOW
Lowe's Companies Profile
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Free Report)
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.
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