Connors Investor Services Inc. Increases Stake in Lowe's Companies, Inc. (NYSE:LOW)

Connors Investor Services Inc. grew its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,060 shares of the home improvement retailer's stock after acquiring an additional 1,943 shares during the period. Lowe's Companies comprises approximately 1.6% of Connors Investor Services Inc.'s holdings, making the stock its 17th largest position. Connors Investor Services Inc.'s holdings in Lowe's Companies were worth $17,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. FMR LLC lifted its position in shares of Lowe's Companies by 1.0% during the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after buying an additional 259,766 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lowe's Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after purchasing an additional 245,876 shares in the last quarter. Norges Bank bought a new position in shares of Lowe's Companies in the fourth quarter worth approximately $1,842,954,000. Northern Trust Corp increased its stake in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Lowe's Companies by 10.2% during the 4th 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. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

Shares of LOW traded up $4.86 during midday trading on Friday, hitting $227.18. The stock had a trading volume of 2,318,741 shares, compared to its average volume of 2,484,168. The stock's 50 day moving average is $227.43 and its 200 day moving average is $249.10. The firm has a market cap of $127.15 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. As a group, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently announced 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 2.02%. Lowe's Companies's dividend payout ratio is currently 37.67%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Piper Sandler dropped their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. Bank of America lowered their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and an average price target of $278.21.

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.