Sciencast Management LP Sells 361 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Sciencast Management LP decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,878 shares of the home improvement retailer’s stock after selling 361 shares during the quarter. Sciencast Management LP’s holdings in Lowe’s Companies were worth $1,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. FMR LLC increased its holdings in shares of Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp grew its position in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after acquiring an additional 460,851 shares during the last quarter. Geode Capital Management LLC increased its stake in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after buying an additional 187,473 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Lowe’s Companies by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after purchasing an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lowe’s Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after buying an additional 90,012 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOW shares. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Truist Financial reduced 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 note on Thursday, February 27th. Finally, Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $227.09 on Friday. The company has a market capitalization of $128.23 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a 50 day simple moving average of $247.99 and a 200-day simple moving average of $257.70.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current 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 paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.03%. 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.