Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,122 shares of the home improvement retailer’s stock after acquiring an additional 162 shares during the quarter. RNC Capital Management LLC’s holdings in Lowe’s Companies were worth $2,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Axiom Financial Strategies LLC increased its position in shares of Lowe’s Companies by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock worth $275,000 after purchasing an additional 123 shares during the last quarter. United Bank increased its position in shares of Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock worth $1,968,000 after purchasing an additional 617 shares during the last quarter. Prudential PLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $1,629,000. Baird Financial Group Inc. increased its position in shares of Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock worth $51,780,000 after purchasing an additional 920 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock worth $60,000 after purchasing an additional 126 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Royal Bank of Canada lifted their target price on Lowe’s Companies from $190.00 to $246.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Barclays lifted their target price on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Finally, Truist Financial lifted their target price on Lowe’s Companies from $244.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $251.60.

Lowe’s Companies Trading Up 0.8 %

NYSE:LOW opened at $253.33 on Thursday. The firm has a market cap of $144.95 billion, a P/E ratio of 19.25, a PEG ratio of 1.86 and a beta of 1.13. The stock’s 50 day simple moving average is $231.47 and its 200-day simple moving average is $215.72. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) 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 negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

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.