Patriot Financial Group Insurance Agency LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 19.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,087 shares of the home improvement retailer’s stock after purchasing an additional 175 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lowe’s Companies were worth $130,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LOW. Parametric Portfolio Associates LLC raised its position in shares of Lowe’s Companies by 2.5% during the third quarter. Parametric Portfolio Associates LLC now owns 3,375,534 shares of the home improvement retailer’s stock worth $371,174,000 after purchasing an additional 82,781 shares during the period. Eaton Vance Management increased its stake in Lowe’s Companies by 49.9% during the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after purchasing an additional 788,392 shares in the last quarter. California Public Employees Retirement System increased its stake in Lowe’s Companies by 19.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,913,710 shares of the home improvement retailer’s stock worth $210,432,000 after purchasing an additional 314,000 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Lowe’s Companies by 281.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,547,147 shares of the home improvement retailer’s stock worth $185,286,000 after buying an additional 1,141,155 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Lowe’s Companies by 3.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,541,473 shares of the home improvement retailer’s stock worth $169,339,000 after buying an additional 53,076 shares during the period. 74.66% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on LOW shares. Wells Fargo & Co reiterated a “buy” rating and issued a $135.00 price target on shares of Lowe’s Companies in a report on Wednesday, November 20th. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Monday, September 30th. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $141.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. UBS Group increased their target price on Lowe’s Companies from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Guggenheim lifted their price target on Lowe’s Companies from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Lowe’s Companies currently has an average rating of “Buy” and a consensus price target of $129.88.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 20th. The home improvement retailer reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Lowe’s Companies had a return on equity of 146.62% and a net margin of 4.11%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 5.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 42.80%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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