Northern Trust Corp Purchases 993,833 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Northern Trust Corp boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,074,391 shares of the home improvement retailer’s stock after purchasing an additional 993,833 shares during the period. Northern Trust Corp owned approximately 1.25% of Lowe’s Companies worth $1,745,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after purchasing an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Lowe’s Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after purchasing an additional 4,435 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Lowe’s Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after purchasing an additional 501 shares during the last quarter. Finally, World Investment Advisors raised its stake in shares of Lowe’s Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock valued at $6,498,000 after acquiring an additional 2,615 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of several research analyst reports. 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 note on Thursday, February 27th. Bank of America decreased their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 16th. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $278.21.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $220.95 on Monday. The stock has a 50-day moving average of $229.29 and a two-hundred day moving average of $250.63. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a market cap of $123.67 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

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 firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS 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 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 37.67%.

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.