BLI Banque de Luxembourg Investments Acquires New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

BLI Banque de Luxembourg Investments bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 297,110 shares of the home improvement retailer’s stock, valued at approximately $73,287,000. Lowe’s Companies comprises about 2.0% of BLI Banque de Luxembourg Investments’ holdings, making the stock its 11th biggest position. BLI Banque de Luxembourg Investments owned approximately 0.05% of Lowe’s Companies as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Lowe’s Companies during the 4th quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC increased its stake in shares of Lowe’s Companies by 350.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after buying an additional 1,846,315 shares during the period. Raymond James Financial Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC lifted its stake in shares of Lowe’s Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after acquiring an additional 1,223,116 shares during the period. Finally, Northern Trust Corp boosted its holdings in Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 15th. Truist Financial dropped their price objective on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.21.

Lowe’s Companies Price Performance

LOW opened at $227.18 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm has a market capitalization of $127.15 billion, a PE ratio of 18.95, a P/E/G ratio of 1.96 and a beta of 1.07. The company’s 50-day moving average is $227.43 and its 200 day moving average is $248.86.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during 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%. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current 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 issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 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.