Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 80.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,739 shares of the home improvement retailer's stock after buying an additional 1,224 shares during the quarter. Modern Wealth Management LLC's holdings in Lowe's Companies were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Lowe's Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock valued at $6,774,948,000 after acquiring an additional 460,851 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lowe's Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock valued at $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lowe's Companies by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock valued at $1,033,283,000 after purchasing an additional 385,994 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lowe's Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock worth $853,697,000 after purchasing an additional 90,012 shares in the last quarter. Finally, Amundi lifted its position in shares of Lowe's Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock worth $642,730,000 after buying an additional 976,823 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler dropped their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Sanford C. Bernstein boosted their target price on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus boosted their price objective on Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $279.71.

Lowe's Companies Stock Performance

LOW stock traded up $4.96 during trading on Monday, reaching $233.38. 3,464,691 shares of the company were exchanged, compared to its average volume of 2,422,422. Lowe's Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The company has a market cap of $130.62 billion, a P/E ratio of 19.46, a PEG ratio of 1.96 and a beta of 1.12. The stock's 50 day moving average price is $245.01 and its 200 day moving average price is $257.24.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

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 issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 1.97%. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

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.