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

Proficio Capital Partners LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 72.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,429 shares of the home improvement retailer’s stock after buying an additional 1,444 shares during the period. Proficio Capital Partners LLC’s holdings in Lowe’s Companies were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Bank boosted its position in shares of Lowe’s Companies by 1.4% during the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after purchasing an additional 137 shares during the period. Pacer Advisors Inc. boosted its position in shares of Lowe’s Companies by 2.9% during the 3rd quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer’s stock worth $11,448,000 after purchasing an additional 1,175 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Lowe’s Companies by 3.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock worth $3,748,000 after purchasing an additional 399 shares during the period. Allen Capital Group LLC boosted its position in shares of Lowe’s Companies by 25.4% during the 3rd quarter. Allen Capital Group LLC now owns 1,725 shares of the home improvement retailer’s stock worth $467,000 after purchasing an additional 349 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $3,291,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

Shares of LOW opened at $227.09 on Friday. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The firm’s fifty day simple moving average is $247.99 and its 200-day simple moving average is $257.79. The firm has a market capitalization of $128.23 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.03%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOW. Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. 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 for the company in a research report on Thursday, February 27th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Truist Financial decreased their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

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.