Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,917 shares of the home improvement retailer’s stock after acquiring an additional 1,580 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Lowe’s Companies were worth $62,173,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. bought a new stake in shares of Lowe’s Companies in the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC raised its stake in shares of Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after buying an additional 1,223,116 shares in the last quarter. Amundi lifted its holdings in shares of Lowe’s Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in Lowe’s Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after buying an additional 844,217 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 5.6 %

Shares of Lowe’s Companies stock opened at $223.48 on Thursday. The company has a fifty day simple moving average of $237.70 and a 200-day simple moving average of $254.99. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The stock has a market cap of $125.08 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.96 and a beta of 1.07.

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 analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

Several research firms recently commented on LOW. Mizuho cut their target price 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. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, February 26th. Truist Financial lowered their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Sanford C. Bernstein increased their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.74.

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.