1248 Management LLC Acquires Shares of 4,122 Lowe’s Companies, Inc. (NYSE:LOW)

1248 Management LLC purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,122 shares of the home improvement retailer’s stock, valued at approximately $1,017,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. West Paces Advisors Inc. grew its stake in shares of Lowe’s Companies by 37.7% during the 4th quarter. West Paces Advisors Inc. now owns 657 shares of the home improvement retailer’s stock worth $162,000 after acquiring an additional 180 shares during the period. South Plains Financial Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $115,000. Arrow Financial Corp boosted its stake in Lowe’s Companies by 1.8% during the fourth quarter. Arrow Financial Corp now owns 4,864 shares of the home improvement retailer’s stock valued at $1,200,000 after buying an additional 87 shares during the period. Blue Rock Wealth Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $993,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in Lowe’s Companies by 10.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 142,591 shares of the home improvement retailer’s stock worth $35,192,000 after buying an additional 13,857 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent research reports. Truist Financial reduced their price objective on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. DA Davidson reissued a “neutral” rating and issued a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 16th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Mizuho lowered their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.21.

Lowe’s Companies Trading Down 0.5 %

Shares of NYSE:LOW opened at $222.50 on Friday. The company has a market cap of $124.53 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The stock has a 50 day moving average of $227.73 and a 200 day moving average of $249.48.

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

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

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.