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

Innova Wealth Partners bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 900 shares of the home improvement retailer’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LOW. Morgan Stanley increased its holdings in Lowe’s Companies by 1.1% in the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after buying an additional 116,855 shares during the period. Northern Trust Corp increased its holdings 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 buying an additional 78,901 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Lowe’s Companies by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after buying an additional 41,451 shares during the period. Schroder Investment Management Group increased 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. Finally, Ontario Teachers Pension Plan Board increased 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. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LOW. Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. The Goldman Sachs Group upped their target price on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. UBS Group upped 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. Citigroup lowered their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Finally, Truist Financial upped their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus price target of $252.67.

Get Our Latest Analysis on Lowe’s Companies

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $5.01 during trading hours on Wednesday, reaching $236.59. 968,365 shares of the company’s stock traded hands, compared to its average volume of 2,406,924. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market capitalization of $135.37 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.72 and a beta of 1.15. The firm’s 50 day moving average is $239.21 and its 200-day moving average is $223.37.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its 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 company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the prior year, the company posted $2.28 EPS. The company’s revenue was down 17.1% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.86%. Lowe’s Companies’s payout ratio is presently 33.43%.

Lowe’s Companies Profile

(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, d├ęcor, and electrical.

Further Reading

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

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