Palouse Capital Management Inc. Has $1.75 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Palouse Capital Management Inc. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,869 shares of the home improvement retailer’s stock after selling 61 shares during the quarter. Palouse Capital Management Inc.’s holdings in Lowe’s Companies were worth $1,751,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Morgan Stanley boosted its position in Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after purchasing an additional 2,050,089 shares during the period. Norges Bank bought a new stake in Lowe’s Companies during the fourth quarter worth approximately $1,461,267,000. Northern Trust Corp boosted its position in Lowe’s Companies by 1.1% during the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after purchasing an additional 78,901 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after purchasing an additional 5,075,327 shares during the period. Finally, Schroder Investment Management Group boosted its position in Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after purchasing an additional 1,831,727 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LOW shares. 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 report on Tuesday, January 16th. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Truist Financial increased their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Oppenheimer reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research report on Monday, March 4th. Finally, Wedbush increased their price objective on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Stock Performance

LOW traded up $1.47 during midday trading on Friday, reaching $230.26. 2,112,198 shares of the company were exchanged, compared to its average volume of 2,546,613. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a market capitalization of $131.75 billion, a P/E ratio of 17.50, a PEG ratio of 1.69 and a beta of 1.13. The stock’s 50-day simple moving average is $239.62 and its 200 day simple moving average is $218.63.

Lowe’s Companies (NYSE:LOW) last released its quarterly 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. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors 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 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.