Colonial Trust Co SC decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 18.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,952 shares of the home improvement retailer’s stock after selling 2,913 shares during the period. Colonial Trust Co SC’s holdings in Lowe’s Companies were worth $3,123,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Lowe’s Companies by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer’s stock worth $13,560,617,000 after buying an additional 924,625 shares in the last quarter. State Street Corp lifted its position in Lowe’s Companies by 0.5% during the 3rd quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer’s stock worth $6,291,867,000 after buying an additional 124,501 shares in the last quarter. Geode Capital Management LLC lifted its position in Lowe’s Companies by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer’s stock worth $3,201,329,000 after buying an additional 887,579 shares in the last quarter. Norges Bank acquired a new position in Lowe’s Companies during the 4th quarter worth about $1,993,697,000. Finally, Northern Trust Corp lifted its position in Lowe’s Companies by 1.5% during the 3rd quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer’s stock worth $1,716,467,000 after buying an additional 103,827 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
Lowe’s Companies Price Performance
Shares of LOW stock opened at $221.45 on Friday. The stock has a market cap of $124.17 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.86. The stock has a 50-day moving average of $228.68 and a 200-day moving average of $246.32. Lowe’s Companies, Inc. has a one year low of $203.40 and a one year high of $293.06.
Lowe’s Companies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be paid a $1.25 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 40.57%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LOW. BTIG Research downgraded shares of Lowe’s Companies to a “reduce” rating in a research report on Tuesday, May 12th. KeyCorp cut their target price on shares of Lowe’s Companies from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Morgan Stanley cut their target price on shares of Lowe’s Companies from $292.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of Lowe’s Companies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Argus upped their target price on shares of Lowe’s Companies from $286.00 to $288.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Twenty-three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $264.57.
Lowe’s Companies Profile
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
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