Legal & General Group Plc Sells 1,340,545 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Legal & General Group Plc trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,704,488 shares of the home improvement retailer’s stock after selling 1,340,545 shares during the period. Legal & General Group Plc’s holdings in Lowe’s Companies were worth $914,268,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. IFS Advisors LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter valued at $27,000. Winch Advisory Services LLC raised its position in Lowe’s Companies by 56.4% in 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. Marshall Investment Management LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $31,000. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $33,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LOW shares. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. 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. Mizuho lowered their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Sanford C. Bernstein increased their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Lowe’s Companies Trading Up 0.2 %

NYSE LOW opened at $223.05 on Monday. The stock has a market cap of $124.84 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The company’s 50 day moving average is $242.39 and its two-hundred day moving average is $256.46.

Lowe’s Companies (NYSE:LOW) last issued its 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 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%. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

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.