Renaissance Technologies LLC Acquires 94,800 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Renaissance Technologies LLC increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2,962.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,000 shares of the home improvement retailer's stock after acquiring an additional 94,800 shares during the quarter. Renaissance Technologies LLC's holdings in Lowe's Companies were worth $24,186,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LOW. IFS Advisors LLC purchased a new stake in Lowe's Companies during the fourth quarter worth $25,000. Winch Advisory Services LLC raised its position in Lowe's Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after purchasing an additional 44 shares during the period. Marshall Investment Management LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter valued at about $31,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe's Companies during the 4th quarter valued at approximately $33,000. Finally, Millstone Evans Group LLC acquired a new position in Lowe's Companies in the fourth quarter worth $44,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

Lowe's Companies stock traded down $4.74 during midday trading on Tuesday, reaching $219.40. The stock had a trading volume of 1,380,916 shares, compared to its average volume of 2,461,120. The firm's fifty day simple moving average is $235.57 and its two-hundred day simple moving average is $253.99. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The firm has a market cap of $122.80 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.96 and a beta of 1.07.

Remove Ads

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, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued 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 2.10%. Lowe's Companies's dividend payout ratio is 37.67%.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research note on Tuesday. Piper Sandler dropped their target price on 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. StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday. Royal Bank of Canada dropped their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, BNP Paribas raised Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $278.74.

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.