Mechanics Financial Corp Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mechanics Financial Corp cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,747 shares of the home improvement retailer’s stock after selling 139 shares during the period. Mechanics Financial Corp’s holdings in Lowe’s Companies were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LOW. 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 valued at $438,783,000 after purchasing an additional 2,110,032 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $430,090,000. Schroder Investment Management Group raised its holdings in shares of Lowe’s Companies by 189.5% in 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 buying an additional 1,831,727 shares during the period. Aristotle Capital Management LLC raised its holdings in shares of Lowe’s Companies by 143.8% in the third quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock worth $283,019,000 after buying an additional 803,216 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in Lowe’s Companies during the 3rd quarter valued at $144,530,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LOW shares. Wells Fargo & Company increased their target price on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Mizuho started coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target on the stock. DA Davidson reiterated a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Stifel Nicolaus dropped their target price on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Piper Sandler lifted their price target on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $252.52.

Lowe’s Companies Stock Down 0.3 %

Shares of Lowe’s Companies stock traded down $0.76 on Thursday, reaching $226.76. The stock had a trading volume of 557,408 shares, compared to its average volume of 2,462,403. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a 50 day moving average price of $240.10 and a 200 day moving average price of $220.45. The stock has a market capitalization of $129.75 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.69 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. The firm had revenue of $18.60 billion during 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%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 EPS. On average, analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.94%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 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.