Pitcairn Co. Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Pitcairn Co. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,155 shares of the home improvement retailer’s stock after selling 2,323 shares during the period. Pitcairn Co.’s holdings in Lowe’s Companies were worth $4,974,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LOW. Klingenstein Fields & Co. LP raised its stake in shares of Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after buying an additional 39 shares during the period. Saxony Capital Management LLC raised its stake in shares of Lowe’s Companies by 4.2% during the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after purchasing an additional 40 shares during the period. Powers Advisory Group LLC lifted its holdings in Lowe’s Companies by 2.7% during the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after purchasing an additional 40 shares in the last quarter. Cordatus Wealth Management LLC lifted its stake in Lowe’s Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock worth $3,705,000 after purchasing an additional 41 shares in the last quarter. Finally, O Brien Greene & Co. Inc raised its position in shares of Lowe’s Companies by 1.5% in the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock worth $715,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LOW. Bank of America decreased their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. 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. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler cut their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $280.35.

Lowe’s Companies Stock Performance

LOW opened at $235.25 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market cap of $131.67 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The firm’s fifty day moving average is $243.94 and its 200 day moving average is $256.94.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $18.29 billion. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.96%. Lowe’s Companies’s dividend payout ratio (DPR) 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.