Accent Capital Management LLC Purchases New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Accent Capital Management LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOWFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,493 shares of the home improvement retailer’s stock, valued at approximately $555,000.

A number of other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $1,638,746,000. Ontario Teachers Pension Plan Board raised its position in Lowe’s Companies by 187,225.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after acquiring an additional 2,110,032 shares during the period. International Assets Investment Management LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at $430,090,000. Schroder Investment Management Group grew its position in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after purchasing an additional 1,831,727 shares during the period. Finally, Canoe Financial LP purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $206,912,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $3.47 during mid-day trading on Monday, reaching $226.82. 1,700,795 shares of the company were exchanged, compared to its average volume of 2,443,513. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm’s 50-day simple moving average is $226.89 and its 200 day simple moving average is $227.47. The firm has a market cap of $129.25 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.71 and a beta of 1.08.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.67 earnings per share. On average, research analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.26%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. Truist Financial dropped their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Zelman & Associates reaffirmed a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $251.33.

Check Out Our Latest Stock Analysis on LOW

About Lowe’s Companies

(Free Report)

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.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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