Westpac Banking Corp Has $9.25 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Westpac Banking Corp trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,469 shares of the home improvement retailer’s stock after selling 6,097 shares during the quarter. Westpac Banking Corp’s holdings in Lowe’s Companies were worth $9,247,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in LOW. Klingenstein Fields & Co. LP boosted its stake in Lowe’s Companies by 1.0% in the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after purchasing an additional 39 shares during the period. Saxony Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after purchasing an additional 40 shares in the last quarter. Powers Advisory Group LLC boosted its position in shares of Lowe’s Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after buying an additional 40 shares during the period. Cordatus Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 0.3% during the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after buying an additional 41 shares in the last quarter. Finally, O Brien Greene & Co. Inc raised its position in Lowe’s Companies by 1.5% during the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after buying an additional 42 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW opened at $235.25 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a market capitalization of $131.67 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.96 and a beta of 1.12. The firm’s fifty day moving average price is $243.94 and its two-hundred day moving average price is $256.94.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 1.96%. Lowe’s Companies’s dividend payout ratio is 37.67%.

Analyst Ratings Changes

LOW has been the subject of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Sanford C. Bernstein increased their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Bank of America lowered their target price on 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. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Finally, Truist Financial reduced their target price on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

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.