Huntington National Bank Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Huntington National Bank increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,719 shares of the home improvement retailer’s stock after buying an additional 985 shares during the period. Huntington National Bank’s holdings in Lowe’s Companies were worth $35,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth about $27,000. IFS Advisors LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at $31,000. Winch Advisory Services LLC boosted its position in Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $233.72 on Wednesday. The firm’s 50-day simple moving average is $244.40 and its two-hundred day simple moving average is $257.09. 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 cap of $130.82 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

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

Analysts Set New Price Targets

LOW has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Royal Bank of Canada cut their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. 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 analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $279.71.

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.