Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by abrdn plc

abrdn plc grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 662,761 shares of the home improvement retailer’s stock after acquiring an additional 111,377 shares during the quarter. abrdn plc’s holdings in Lowe’s Companies were worth $147,497,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the fourth quarter valued at approximately $25,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies in the 3rd quarter worth approximately $26,000. VisionPoint Advisory Group LLC boosted its position in Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $35,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Lowe’s Companies in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI lowered their price objective on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a research report on Tuesday. Mizuho began coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price objective on the stock. UBS Group upped their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Piper Sandler upped their target price on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada upped their target price on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $252.52.

Lowe’s Companies Trading Up 0.6 %

LOW stock traded up $1.45 during trading on Friday, reaching $230.24. 2,112,314 shares of the stock were exchanged, compared to its average volume of 2,254,721. The business has a 50 day moving average price of $239.62 and a 200-day moving average price of $218.63. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a market capitalization of $131.74 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.69 and a beta of 1.13.

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, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. Lowe’s Companies’s quarterly revenue was down 17.1% compared to the same quarter last year. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Lowe’s Companies Company 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.