Wedge Capital Management L L P NC Raises Position in Lowe’s Companies, Inc. (NYSE:LOW)

Wedge Capital Management L L P NC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,714 shares of the home improvement retailer’s stock after purchasing an additional 1,155 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lowe’s Companies were worth $8,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies in the 3rd quarter worth $26,000. VisionPoint Advisory Group LLC grew its holdings in Lowe’s Companies by 85.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Lowe’s Companies in the 3rd quarter worth $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Lowe’s Companies in the 4th quarter worth $47,000. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted 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, April 2nd. DA Davidson reaffirmed a “neutral” rating and set a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Mizuho assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price on the stock. Barclays lifted their target price on shares of Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research note on Thursday, January 4th. Finally, Robert W. Baird raised shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, February 14th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Trading Up 1.1 %

Shares of NYSE LOW opened at $233.69 on Wednesday. The firm has a 50 day moving average of $239.82 and a 200 day moving average of $219.35. The firm has a market capitalization of $133.72 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

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

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.88%. Lowe’s Companies’s payout ratio 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.