Treasurer of the State of North Carolina Acquires 1,580 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Treasurer of the State of North Carolina boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 251,917 shares of the home improvement retailer's stock after acquiring an additional 1,580 shares during the quarter. Treasurer of the State of North Carolina's holdings in Lowe's Companies were worth $62,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LOW. Norges Bank acquired a new position in Lowe's Companies in the 4th quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. acquired a new position in shares of Lowe's Companies in the fourth quarter worth $314,435,000. Strategic Financial Concepts LLC raised its holdings in shares of Lowe's Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after acquiring an additional 1,223,116 shares in the last quarter. Amundi boosted its position in Lowe's Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after purchasing an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Lowe's Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after purchasing an additional 844,217 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LOW. Mizuho cut their price target on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. StockNews.com lowered shares of Lowe's Companies from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, February 26th. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Finally, Truist Financial cut their price target on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $278.74.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock traded up $2.06 during midday trading on Monday, hitting $222.41. The company had a trading volume of 873,359 shares, compared to its average volume of 2,457,469. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The business's 50 day simple moving average is $236.25 and its two-hundred day simple moving average is $254.29. The stock has a market cap of $124.48 billion, a PE ratio of 18.55, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results 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. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $1.15 dividend. 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%.

Lowe's Companies 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.