Prudential Financial Inc. Acquires 46,701 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Prudential Financial Inc. raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 917,109 shares of the home improvement retailer's stock after purchasing an additional 46,701 shares during the period. Prudential Financial Inc. owned 0.16% of Lowe's Companies worth $226,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hirtle Callaghan & Co LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $243,000. Woodmont Investment Counsel LLC boosted its holdings in Lowe's Companies by 3.7% in the fourth quarter. Woodmont Investment Counsel LLC now owns 2,786 shares of the home improvement retailer's stock worth $688,000 after acquiring an additional 100 shares in the last quarter. Angeles Investment Advisors LLC boosted its holdings in Lowe's Companies by 5.5% in the fourth quarter. Angeles Investment Advisors LLC now owns 2,587 shares of the home improvement retailer's stock worth $638,000 after acquiring an additional 135 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Lowe's Companies in the fourth quarter worth $137,000. Finally, Horrell Capital Management Inc. increased its holdings in shares of Lowe's Companies by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,803 shares of the home improvement retailer's stock valued at $6,615,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. 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 note on Monday. Royal Bank of Canada reduced their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Mizuho decreased 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 report on Thursday, February 27th. Finally, BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $279.71.

Lowe's Companies Trading Down 1.0 %

NYSE LOW traded down $2.28 on Tuesday, hitting $230.61. 2,476,794 shares of the company traded hands, compared to its average volume of 2,280,569. The business's 50 day moving average price is $247.26 and its 200-day moving average price is $257.71. The company has a market capitalization of $130.21 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe's Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts predict 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 disclosed 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.99%. Lowe's Companies's payout ratio is 37.67%.

About Lowe's Companies

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.