First Fiduciary Investment Counsel Inc. Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

First Fiduciary Investment Counsel Inc. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,423 shares of the home improvement retailer’s stock after purchasing an additional 164 shares during the quarter. Lowe’s Companies makes up about 6.0% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 2nd largest position. First Fiduciary Investment Counsel Inc.’s holdings in Lowe’s Companies were worth $27,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LOW. Park Place Capital Corp increased its position in shares of Lowe’s Companies by 8.8% during the third quarter. Park Place Capital Corp now owns 716 shares of the home improvement retailer’s stock valued at $149,000 after acquiring an additional 58 shares during the last quarter. Strategic Blueprint LLC increased its position in shares of Lowe’s Companies by 1.1% during the third quarter. Strategic Blueprint LLC now owns 9,118 shares of the home improvement retailer’s stock valued at $1,895,000 after acquiring an additional 101 shares during the last quarter. Caprock Group LLC increased its position in shares of Lowe’s Companies by 4.7% during the third quarter. Caprock Group LLC now owns 5,771 shares of the home improvement retailer’s stock valued at $1,200,000 after acquiring an additional 258 shares during the last quarter. CX Institutional increased its position in shares of Lowe’s Companies by 693.8% during the third quarter. CX Institutional now owns 28,830 shares of the home improvement retailer’s stock valued at $5,992,000 after acquiring an additional 25,198 shares during the last quarter. Finally, DeDora Capital Inc. increased its position in shares of Lowe’s Companies by 17.1% during the third quarter. DeDora Capital Inc. now owns 1,865 shares of the home improvement retailer’s stock valued at $388,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $229.87 on Friday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market cap of $131.53 billion, a PE ratio of 17.47, a P/E/G ratio of 1.70 and a beta of 1.13. The stock’s 50-day moving average is $239.98 and its 200 day moving average is $219.70.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the previous year, the business earned $2.28 EPS. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada increased their price target on Lowe’s Companies from $190.00 to $246.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Oppenheimer reissued a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their target price on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Piper Sandler raised their target price 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, Wells Fargo & Company raised their target price on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.