Hartford Funds Management Co LLC Buys 1,086 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Funds Management Co LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,765 shares of the home improvement retailer’s stock after purchasing an additional 1,086 shares during the period. Lowe’s Companies comprises about 0.1% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 25th largest position. Hartford Funds Management Co LLC’s holdings in Lowe’s Companies were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of Lowe’s Companies by 1.1% in the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after purchasing an additional 116,855 shares during the last quarter. Northern Trust Corp grew its holdings in Lowe’s Companies by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after acquiring an additional 78,901 shares in the last quarter. Schroder Investment Management Group grew its holdings in Lowe’s Companies by 189.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after acquiring an additional 1,831,727 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Lowe’s Companies by 187,225.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after acquiring an additional 2,110,032 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Lowe’s Companies during the 4th quarter worth about $430,090,000. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LOW shares. Royal Bank of Canada increased their target price on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. UBS Group increased their target price on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Finally, Oppenheimer reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. 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 data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Down 1.3 %

Shares of NYSE LOW traded down $3.02 during midday trading on Tuesday, reaching $227.92. 2,435,258 shares of the stock were exchanged, compared to its average volume of 2,494,747. The firm has a market cap of $130.41 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a 50-day simple moving average of $240.11 and a two-hundred day simple moving average of $220.41.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter last year, the company earned $2.28 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Research analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

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.