Investment Management Corp VA ADV Purchases New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Investment Management Corp VA ADV purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,572 shares of the home improvement retailer’s stock, valued at approximately $23,834,000. Lowe’s Companies makes up 21.3% of Investment Management Corp VA ADV’s holdings, making the stock its biggest holding.

Other institutional investors have also recently modified their holdings of the company. Marshall Investment Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Caisse Des Depots ET Consignations acquired a new position in Lowe’s Companies during the fourth quarter worth $33,000. Orion Capital Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $36,000. Measured Risk Portfolios Inc. acquired a new position in Lowe’s Companies during the fourth quarter worth $42,000. Finally, Millstone Evans Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $44,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the subject of several research reports. Piper Sandler reduced their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Morgan Stanley reduced their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada dropped their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein set a $266.00 price target on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.52.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $223.74 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The business’s 50-day simple moving average is $224.65 and its 200 day simple moving average is $245.01. The stock has a market cap of $125.23 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.06%. The ex-dividend date was Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 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.