Ethic Inc. Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ethic Inc. raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 35.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,191 shares of the home improvement retailer’s stock after purchasing an additional 13,231 shares during the period. Ethic Inc.’s holdings in Lowe’s Companies were worth $12,387,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $25,000. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth about $31,000. Winch Advisory Services LLC grew its stake in shares of Lowe’s Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 44 shares during the period. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies in the fourth quarter valued at $33,000. Finally, Millstone Evans Group LLC acquired a new position in Lowe’s Companies in the 4th quarter worth about $44,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several research reports. Royal Bank of Canada cut their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target for the company in a research note on Friday, April 25th. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 15th. Finally, Mizuho decreased their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.04.

Lowe’s Companies Stock Performance

LOW opened at $224.54 on Friday. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The company has a 50-day moving average of $225.61 and a 200-day moving average of $247.53. The company has a market capitalization of $125.68 billion, a P/E ratio of 18.73, a PEG ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

About Lowe’s Companies

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.