Geode Capital Management LLC Raises Position in Lowe’s Companies, Inc. (NYSE:LOW)

Geode Capital Management LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,979,337 shares of the home improvement retailer’s stock after buying an additional 245,876 shares during the period. Geode Capital Management LLC’s holdings in Lowe’s Companies were worth $2,952,341,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Klingenstein Fields & Co. LP increased its position in Lowe’s Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after acquiring an additional 39 shares during the last quarter. Saxony Capital Management LLC raised its position in Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after purchasing an additional 40 shares during the period. Powers Advisory Group LLC lifted its stake in Lowe’s Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after purchasing an additional 40 shares during the last quarter. Cordatus Wealth Management LLC boosted its position in shares of Lowe’s Companies by 0.3% during the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after buying an additional 41 shares during the period. Finally, O Brien Greene & Co. Inc grew its stake in shares of Lowe’s Companies by 1.5% during the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after buying an additional 42 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $233.38 on Tuesday. The company’s 50-day simple moving average is $245.01 and its 200-day simple moving average is $257.24. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market capitalization of $130.62 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOW. Sanford C. Bernstein raised their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Truist Financial decreased their target price on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler cut their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $279.71.

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.