Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,827 shares of the home improvement retailer’s stock after selling 266 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,187,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LOW. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at $1,461,267,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Lowe’s Companies by 187,225.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after purchasing an additional 2,110,032 shares during the period. Morgan Stanley increased its holdings in shares of Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth about $430,090,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on LOW shares. JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. Piper Sandler raised their price objective on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Evercore ISI decreased their price objective on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada raised their price objective on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Stock Down 0.7 %

NYSE LOW traded down $1.66 during trading on Wednesday, hitting $228.35. The company’s stock had a trading volume of 2,201,031 shares, compared to its average volume of 2,331,366. The firm has a 50 day moving average price of $239.15 and a 200 day moving average price of $218.31. The firm has a market cap of $130.66 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. Lowe’s Companies’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.28 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.