Optimize Financial Inc Takes Position in Lowe's Companies, Inc. (NYSE:LOW)

Optimize Financial Inc acquired a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,163 shares of the home improvement retailer's stock, valued at approximately $534,000.

A number of other large investors have also modified their holdings of the company. FMR LLC boosted its position in Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC grew its stake in Lowe's Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after acquiring an additional 245,876 shares during the period. Norges Bank purchased a new position in Lowe's Companies during the fourth quarter valued at $1,842,954,000. Bank of New York Mellon Corp boosted its holdings in Lowe's Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock worth $1,033,283,000 after buying an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $853,697,000 after acquiring an additional 90,012 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently commented on the company. Bank of America reduced their price objective on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Tuesday. Truist Financial lowered their price objective on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler decreased 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 report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $278.74.

Lowe's Companies Stock Down 1.6 %

Lowe's Companies stock traded down $3.68 during midday trading on Tuesday, reaching $220.46. The company's stock had a trading volume of 2,804,324 shares, compared to its average volume of 2,466,191. The company has a market cap of $123.40 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 1.07. The business has a 50-day simple moving average of $235.57 and a 200-day simple moving average of $253.99. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders 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 2.09%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

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.