2,340 Shares in Lowe's Companies, Inc. (NYSE:LOW) Purchased by Tradewinds LLC.

Tradewinds LLC. bought a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,340 shares of the home improvement retailer's stock, valued at approximately $601,000.

Other hedge funds have also added to or reduced their stakes in the company. United Bank grew its position in Lowe's Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock valued at $2,735,000 after buying an additional 137 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Lowe's Companies during the 3rd quarter worth $2,073,000. Erste Asset Management GmbH bought a new stake in shares of Lowe's Companies during the 3rd quarter valued at $5,976,000. Bamco Inc. NY increased its stake in shares of Lowe's Companies by 71.6% in the 3rd quarter. Bamco Inc. NY now owns 290,107 shares of the home improvement retailer's stock worth $78,575,000 after purchasing an additional 121,058 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Lowe's Companies by 2,869.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 67,580 shares of the home improvement retailer's stock worth $18,309,000 after purchasing an additional 65,304 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial cut their price target on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada cut their price objective on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Wedbush restated a "neutral" rating and set a $250.00 target price on shares of Lowe's Companies in a research note on Thursday, December 12th. Piper Sandler dropped their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.35.

Remove Ads

Lowe's Companies Trading Down 5.4 %

LOW traded down $12.75 during trading hours on Thursday, hitting $222.53. The company's stock had a trading volume of 4,474,642 shares, compared to its average volume of 2,428,840. Lowe's Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The business's 50-day moving average price is $243.94 and its 200-day moving average price is $256.94. The stock has a market cap of $124.55 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share 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 the consensus estimate 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, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share 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. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is currently 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.