Burling Wealth Partners LLC Purchases New Shares in Lowe's Companies, Inc. (NYSE:LOW)

Burling Wealth Partners LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,888 shares of the home improvement retailer's stock, valued at approximately $466,000.

Several other hedge funds also recently made changes to their positions in LOW. Norges Bank acquired a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. purchased a new position in Lowe's Companies in the 4th quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC boosted its position in shares of Lowe's Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after buying an additional 1,223,116 shares in the last quarter. Amundi lifted its holdings in shares of Lowe's Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in Lowe's Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock worth $208,843,000 after buying an additional 844,217 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LOW. Truist Financial cut their price objective on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Piper Sandler decreased their price objective 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. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a report on Tuesday, April 15th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Finally, Bank of America decreased their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $278.21.

Lowe's Companies Trading Down 0.8 %

Shares of LOW stock traded down $1.72 on Wednesday, hitting $221.56. 495,802 shares of the stock were exchanged, compared to its average volume of 2,468,423. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm's 50 day moving average is $228.32 and its two-hundred day moving average is $250.06. The firm has a market capitalization of $124.01 billion, a PE ratio of 18.48, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted 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. The company had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.08%. Lowe's Companies's payout ratio is presently 37.67%.

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.