OLD National Bancorp IN Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

OLD National Bancorp IN reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,371 shares of the home improvement retailer’s stock after selling 461 shares during the period. OLD National Bancorp IN’s holdings in Lowe’s Companies were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new position in Lowe’s Companies during the fourth quarter valued at $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies during the third quarter valued at about $26,000. VisionPoint Advisory Group LLC raised its holdings in Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Lowe’s Companies during the third quarter valued at about $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at about $47,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.4 %

Shares of LOW stock opened at $231.23 on Tuesday. The business’s fifty day simple moving average is $239.65 and its 200-day simple moving average is $219.11. The company has a market cap of $132.31 billion, a PE ratio of 17.57, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is presently 33.43%.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Piper Sandler boosted their price objective on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Zelman & Associates reissued a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Oppenheimer reissued a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Monday, March 4th. Finally, Citigroup boosted their price objective on Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $252.52.

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.