Everence Capital Management Inc. Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Everence Capital Management Inc. increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 35.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,299 shares of the home improvement retailer’s stock after purchasing an additional 6,380 shares during the period. Everence Capital Management Inc.’s holdings in Lowe’s Companies were worth $5,408,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. boosted its stake in shares of Lowe’s Companies by 11.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 3,994 shares of the home improvement retailer’s stock worth $889,000 after purchasing an additional 403 shares during the period. United Asset Strategies Inc. boosted its position in Lowe’s Companies by 17.7% in the 4th quarter. United Asset Strategies Inc. now owns 6,669 shares of the home improvement retailer’s stock valued at $1,484,000 after buying an additional 1,001 shares during the period. SVB Wealth LLC boosted its position in Lowe’s Companies by 3.3% in the 4th quarter. SVB Wealth LLC now owns 14,188 shares of the home improvement retailer’s stock valued at $3,158,000 after buying an additional 457 shares during the period. Flputnam Investment Management Co. boosted its position in Lowe’s Companies by 2.2% in the 4th quarter. Flputnam Investment Management Co. now owns 117,999 shares of the home improvement retailer’s stock valued at $26,261,000 after buying an additional 2,511 shares during the period. Finally, Capital Analysts LLC boosted its position in Lowe’s Companies by 3.8% in the 4th quarter. Capital Analysts LLC now owns 24,665 shares of the home improvement retailer’s stock valued at $5,489,000 after buying an additional 892 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded down $1.66 during mid-day trading on Tuesday, reaching $228.35. The company’s stock had a trading volume of 2,197,967 shares, compared to its average volume of 2,561,252. The stock has a 50-day moving average of $238.95 and a two-hundred day moving average of $218.17. The stock has a market capitalization of $130.66 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.72 and a beta of 1.13. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. Evercore ISI reduced their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a report on Tuesday. Truist Financial boosted their price objective on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Zelman & Associates restated a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Barclays upped their price target on shares of Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research note on Thursday, January 4th. Finally, Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, February 14th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.52.

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.