GAMMA Investing LLC Makes New $619,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

GAMMA Investing LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,906 shares of the home improvement retailer’s stock, valued at approximately $619,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new position in Lowe’s Companies in the 4th quarter worth approximately $25,000. Orion Capital Management LLC bought a new position in Lowe’s Companies during the third quarter worth about $26,000. VisionPoint Advisory Group LLC raised its stake in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at about $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $47,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 1.8 %

Shares of NYSE LOW traded down $4.17 during midday trading on Wednesday, hitting $229.39. The company’s stock had a trading volume of 681,476 shares, compared to its average volume of 2,509,414. The stock has a fifty day moving average price of $239.82 and a 200 day moving average price of $219.35. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The firm has a market capitalization of $131.25 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.71 and a beta of 1.13.

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

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.92%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Analyst Ratings Changes

A number of research firms have weighed in on LOW. Morgan Stanley upped their price target on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Gordon Haskett reiterated a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Piper Sandler increased their price target on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $252.52.

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.