Lowe’s Companies, Inc. (NYSE:LOW) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 560,635 shares of the home improvement retailer’s stock after buying an additional 14,134 shares during the period. Victory Capital Management Inc.’s holdings in Lowe’s Companies were worth $124,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in shares of Lowe’s Companies by 4.0% in the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after acquiring an additional 46 shares during the last quarter. First Command Advisory Services Inc. increased its position in Lowe’s Companies by 1.9% during the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after buying an additional 48 shares in the last quarter. Hamilton Capital LLC raised its position in shares of Lowe’s Companies by 2.1% in the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after purchasing an additional 49 shares during the last quarter. Abundance Wealth Counselors raised its holdings in Lowe’s Companies by 0.8% in the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after acquiring an additional 50 shares during the last quarter. Finally, YHB Investment Advisors Inc. raised its position in Lowe’s Companies by 0.6% in the 4th quarter. YHB Investment Advisors Inc. now owns 9,013 shares of the home improvement retailer’s stock worth $2,006,000 after buying an additional 50 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LOW. Royal Bank of Canada increased their target price on Lowe’s Companies from $190.00 to $246.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Piper Sandler upped their price target 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. UBS Group upped their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Finally, Morgan Stanley increased their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research 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. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Price Performance

LOW opened at $229.58 on Friday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a market capitalization of $131.36 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The business’s 50-day moving average is $240.08 and its two-hundred day moving average is $220.52.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the previous year, the business earned $2.28 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders 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 yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.