Hartford Investment Management Co. Has $8.65 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Investment Management Co. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,871 shares of the home improvement retailer’s stock after selling 1,344 shares during the period. Hartford Investment Management Co.’s holdings in Lowe’s Companies were worth $8,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. State Street Corp grew its position in shares of Lowe’s Companies by 1.5% during the 2nd quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock worth $5,693,039,000 after purchasing an additional 374,457 shares in the last quarter. Morgan Stanley raised its stake 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 acquiring an additional 2,050,089 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $1,461,267,000. Northern Trust Corp boosted its holdings in shares of 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 valued at $1,483,733,000 after acquiring an additional 78,901 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of 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 valued at $1,012,147,000 after purchasing an additional 5,075,327 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LOW shares. DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. UBS Group upped their target price on Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Wedbush upped their target price on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Finally, Truist Financial boosted their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $252.33.

Read Our Latest Report on LOW

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded down $2.65 on Wednesday, hitting $241.80. The company’s stock had a trading volume of 1,098,706 shares, compared to its average volume of 2,580,154. The company has a market capitalization of $138.35 billion, a PE ratio of 18.42, a PEG ratio of 1.84 and a beta of 1.13. The company has a 50-day simple moving average of $234.79 and a 200 day simple moving average of $216.53. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its earnings results 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. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the firm earned $2.28 EPS. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal 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 paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

About Lowe’s Companies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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