Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Concord Wealth Partners

Concord Wealth Partners raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 48.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,055 shares of the home improvement retailer’s stock after acquiring an additional 1,639 shares during the quarter. Concord Wealth Partners’ holdings in Lowe’s Companies were worth $1,125,000 as of its most recent filing with the SEC.

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

Lowe’s Companies Trading Up 0.9 %

LOW stock traded up $1.97 during trading hours on Wednesday, hitting $229.96. 979,609 shares of the stock traded hands, compared to its average volume of 2,475,778. The stock has a 50-day simple moving average of $240.11 and a 200 day simple moving average of $220.41. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The company has a market cap of $131.58 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.71 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter last year, the business posted $2.28 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 33.43%.

Analyst Ratings Changes

A number of analysts have recently issued reports on LOW shares. Piper Sandler boosted their target price on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. 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. Barclays boosted their price target on Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Mizuho started coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target on the stock. Finally, Stifel Nicolaus reduced their price target on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Fifteen investment 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 stock has a consensus rating of “Hold” and an average price target of $252.52.

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.