Pinebridge Investments L.P. Lowers Stake in Lowe's Companies, Inc. (NYSE:LOW)

Pinebridge Investments L.P. decreased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 34.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 160,161 shares of the home improvement retailer's stock after selling 82,558 shares during the period. Pinebridge Investments L.P.'s holdings in Lowe's Companies were worth $39,528,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LOW shares. Bank of America lowered their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. StockNews.com upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Mizuho cut their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. DA Davidson reissued a "neutral" rating and set a $270.00 price target on shares of Lowe's Companies in a research report on Wednesday, April 16th. Finally, BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $278.74.

Lowe's Companies Trading Up 2.9 %

LOW stock opened at $219.03 on Wednesday. The firm has a 50 day simple moving average of $231.16 and a 200-day simple moving average of $251.89. The company has a market capitalization of $122.59 billion, a P/E ratio of 18.27, a PEG ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion for 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, research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The business 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. This represents a $4.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.