Tower Research Capital LLC TRC Acquires 17,987 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Tower Research Capital LLC TRC increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 143.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,544 shares of the home improvement retailer's stock after purchasing an additional 17,987 shares during the period. Tower Research Capital LLC TRC's holdings in Lowe's Companies were worth $7,538,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC grew its position in Lowe's Companies by 1.0% during the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after acquiring an additional 259,766 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lowe's Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after buying an additional 245,876 shares during the period. Norges Bank purchased a new stake in Lowe's Companies during the 4th quarter valued at $1,842,954,000. Bank of New York Mellon Corp grew 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 acquiring an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Lowe's Companies by 2.7% in 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 period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 1.9 %

LOW stock traded up $4.05 during midday trading on Thursday, hitting $221.81. The company's stock had a trading volume of 1,099,039 shares, compared to its average volume of 2,469,294. The firm has a market capitalization of $124.15 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The company has a 50 day moving average of $230.48 and a two-hundred day moving average of $251.65.

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, topping the consensus estimate of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. On average, analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.07%. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analyst Weigh In

Several brokerages have commented on LOW. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research report on Tuesday, April 15th. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Bank of America cut their price target on 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 Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Royal Bank of Canada lowered their price target on 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $278.74.

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.