NorthCrest Asset Manangement LLC Has $23.67 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

NorthCrest Asset Manangement LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,913 shares of the home improvement retailer’s stock after purchasing an additional 598 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Lowe’s Companies were worth $23,671,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Lowe’s Companies by 25.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,635 shares of the home improvement retailer’s stock valued at $2,625,000 after purchasing an additional 2,159 shares during the period. Apexium Financial LP boosted its holdings in Lowe’s Companies by 43.4% in the 4th quarter. Apexium Financial LP now owns 1,159 shares of the home improvement retailer’s stock valued at $286,000 after purchasing an additional 351 shares during the period. Pacer Advisors Inc. boosted its holdings in Lowe’s Companies by 56.3% in the 4th quarter. Pacer Advisors Inc. now owns 66,073 shares of the home improvement retailer’s stock valued at $16,307,000 after purchasing an additional 23,807 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Lowe’s Companies by 0.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 26,668 shares of the home improvement retailer’s stock worth $6,582,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.1%

LOW opened at $225.68 on Wednesday. The company’s 50 day moving average is $224.51 and its 200-day moving average is $243.93. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The company has a market cap of $126.31 billion, a P/E ratio of 18.82, a PEG ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $3.06 EPS. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $1.15 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.04%. Lowe’s Companies’s payout ratio is 38.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $264.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler lowered their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $271.12.

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.