Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,074,391 shares of the home improvement retailer’s stock after purchasing an additional 993,833 shares during the period. Northern Trust Corp’s holdings in Lowe’s Companies were worth $1,745,960,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LOW. Norges Bank purchased a new stake in Lowe’s Companies in the 4th quarter valued at $1,842,954,000. Kovitz Investment Group Partners LLC grew its holdings in Lowe’s Companies by 350.2% in the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Lowe’s Companies in the 4th quarter valued at $314,435,000. Strategic Financial Concepts LLC lifted its stake in shares of Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after purchasing an additional 1,223,116 shares during the last quarter. Finally, Amundi grew its holdings in shares of Lowe’s Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after purchasing an additional 976,823 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LOW. Truist Financial reduced their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Royal Bank of Canada lowered their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Mizuho lowered their target price on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price for the company in a research note on Friday. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $278.21.

Lowe’s Companies Trading Down 0.5 %

LOW stock opened at $220.95 on Monday. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company’s 50 day moving average is $229.29 and its two-hundred day moving average is $250.63. The stock has a market cap of $123.67 billion, a P/E ratio of 18.43, a PEG ratio of 1.96 and a beta of 1.07.

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

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.08%. Lowe’s Companies’s 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.