Watchman Group Inc. Sells 5,275 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Watchman Group Inc. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,988 shares of the home improvement retailer’s stock after selling 5,275 shares during the quarter. Lowe’s Companies accounts for 1.1% of Watchman Group Inc.’s portfolio, making the stock its 28th largest position. Watchman Group Inc.’s holdings in Lowe’s Companies were worth $4,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. Norges Bank purchased a new stake in Lowe’s Companies during the 4th quarter valued at $1,842,954,000. Raymond James Financial Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth about $314,435,000. Strategic Financial Concepts LLC raised its position in 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 during the last quarter. Amundi lifted its stake in Lowe’s Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after acquiring an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC lifted its position 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 purchasing an additional 844,217 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $228.20 on Friday. The stock has a market cap of $127.73 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The stock has a 50 day moving average price of $245.57 and a 200-day moving average price of $257.31. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

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. 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 the consensus estimate of $18.29 billion. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Piper Sandler reduced their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Bank of America decreased their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Mizuho decreased their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.