Somerset Group LLC Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Somerset Group LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,106 shares of the home improvement retailer’s stock after acquiring an additional 100 shares during the quarter. Somerset Group LLC’s holdings in Lowe’s Companies were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the last quarter. State Street Corp boosted its position in Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC boosted its position in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after buying an additional 187,473 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Lowe’s Companies by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after buying an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe’s Companies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after buying an additional 90,012 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $227.09 on Friday. The company has a 50 day simple moving average of $247.99 and a two-hundred day simple moving average of $257.79. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a market capitalization of $128.23 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.03%. Lowe’s Companies’s payout ratio is 37.67%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Truist Financial decreased their target price on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler decreased their price objective on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Company 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.