Prudential PLC Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Prudential PLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,759 shares of the home improvement retailer’s stock after purchasing an additional 2,289 shares during the period. Prudential PLC’s holdings in Lowe’s Companies were worth $3,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. United Bank increased its position in shares of Lowe’s Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after acquiring an additional 137 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Lowe’s Companies in the third quarter worth approximately $205,000. Wellington Management Group LLP increased its holdings in Lowe’s Companies by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 721,116 shares of the home improvement retailer’s stock worth $195,314,000 after purchasing an additional 90,750 shares during the period. Zacks Investment Management raised its position in Lowe’s Companies by 7.4% during the 3rd quarter. Zacks Investment Management now owns 3,166 shares of the home improvement retailer’s stock valued at $858,000 after purchasing an additional 217 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC raised its position in Lowe’s Companies by 0.4% during the 3rd quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,758 shares of the home improvement retailer’s stock valued at $5,081,000 after purchasing an additional 72 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Up 0.2 %

NYSE:LOW opened at $223.05 on Friday. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The stock’s 50-day moving average price is $242.39 and its 200-day moving average price is $256.46. The stock has a market capitalization of $124.84 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations 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 expect 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 declared 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. 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 is currently 37.67%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Evercore ISI increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Mizuho reduced 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. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Truist Financial cut their price target on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $280.35.

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.