Pitcairn Co. Decreases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Pitcairn Co. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,155 shares of the home improvement retailer’s stock after selling 2,323 shares during the quarter. Pitcairn Co.’s holdings in Lowe’s Companies were worth $4,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Lowe’s Companies during the 4th quarter worth about $1,842,954,000. Raymond James Financial Inc. bought a new stake in Lowe’s Companies in the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC boosted its position in shares of Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after buying an additional 1,223,116 shares during the period. Amundi grew its stake in shares of Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after buying an additional 844,217 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada cut their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Truist Financial lowered their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.35.

Lowe’s Companies Stock Performance

LOW stock opened at $235.25 on Thursday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The firm has a market cap of $131.67 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.96 and a beta of 1.12. The firm has a 50-day simple moving average of $243.94 and a two-hundred day simple moving average of $256.94.

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

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.96%. Lowe’s Companies’s payout ratio is 37.67%.

Lowe’s Companies 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.