Norges Bank Purchases New Stake in Lowe's Companies, Inc. (NYSE:LOW)

Norges Bank acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,467,400 shares of the home improvement retailer's stock, valued at approximately $1,842,954,000. Norges Bank owned 1.32% of Lowe's Companies at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. IFS Advisors LLC acquired a new position in Lowe's Companies during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Lowe's Companies during the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC boosted its position in Lowe's Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock worth $30,000 after buying an additional 44 shares during the period. Marshall Investment Management LLC bought a new stake in shares of Lowe's Companies in the fourth quarter worth $31,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at about $33,000. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 1.7 %

NYSE:LOW traded up $3.86 during trading hours on Monday, hitting $232.28. 1,031,752 shares of the company's stock traded hands, compared to its average volume of 2,412,883. Lowe's Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The firm has a market cap of $130.01 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.96 and a beta of 1.12. The business's fifty day simple moving average is $245.57 and its two-hundred day simple moving average is $257.38.

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Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating 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%. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's payout ratio is presently 37.67%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein upped their price objective on shares of Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Truist Financial decreased their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating for the company in a report on Thursday, February 27th. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Mizuho lowered their price target on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Evercore ISI lifted their target price on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.71.

Lowe's Companies 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.