OLD National Bancorp IN Sells 461 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

OLD National Bancorp IN reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,371 shares of the home improvement retailer’s stock after selling 461 shares during the quarter. OLD National Bancorp IN’s holdings in Lowe’s Companies were worth $2,753,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have commented on LOW. Robert W. Baird upgraded Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, February 14th. Citigroup increased their price target on Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. Truist Financial increased their price target on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Finally, Oppenheimer reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Monday, March 4th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $231.23 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market cap of $132.31 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.70 and a beta of 1.13. The business’s fifty day moving average is $239.65 and its 200 day moving average is $219.11.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 analyst estimates of $18.47 billion. During the same period in the previous year, the company posted $2.28 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

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

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.