Wedge Capital Management L L P NC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Wedge Capital Management L L P NC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,714 shares of the home improvement retailer’s stock after purchasing an additional 1,155 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lowe’s Companies were worth $8,616,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Foster & Motley Inc. grew its holdings in shares of Lowe’s Companies by 7.3% in the fourth quarter. Foster & Motley Inc. now owns 29,331 shares of the home improvement retailer’s stock valued at $6,528,000 after purchasing an additional 2,003 shares during the period. RWA Wealth Partners LLC grew its holdings in shares of Lowe’s Companies by 534.9% in the fourth quarter. RWA Wealth Partners LLC now owns 91,953 shares of the home improvement retailer’s stock valued at $20,464,000 after purchasing an additional 77,471 shares during the period. Sage Mountain Advisors LLC grew its holdings in shares of Lowe’s Companies by 9.0% in the fourth quarter. Sage Mountain Advisors LLC now owns 3,383 shares of the home improvement retailer’s stock valued at $753,000 after purchasing an additional 280 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in shares of Lowe’s Companies by 1,511.4% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 24,349 shares of the home improvement retailer’s stock valued at $5,419,000 after purchasing an additional 22,838 shares during the period. Finally, MCF Advisors LLC grew its holdings in shares of Lowe’s Companies by 60.7% in the fourth quarter. MCF Advisors LLC now owns 760 shares of the home improvement retailer’s stock valued at $169,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOW. Citigroup upped their price objective on shares of Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, February 21st. Wedbush upped their target price on shares of Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Piper Sandler upped their target price on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Finally, StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Up 1.1 %

Shares of Lowe’s Companies stock opened at $233.69 on Wednesday. The firm has a market capitalization of $133.72 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.71 and a beta of 1.13. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The firm’s 50 day moving average is $239.82 and its two-hundred day moving average is $219.35.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. As a group, research analysts expect 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 annualized dividend and a yield of 1.88%. Lowe’s Companies’s dividend payout ratio is currently 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.