Tema Etfs LLC Invests $403,000 in Lowe's Companies, Inc. (NYSE:LOW)

Tema Etfs LLC bought a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,633 shares of the home improvement retailer's stock, valued at approximately $403,000.

A number of other large investors also recently modified their holdings of LOW. FMR LLC grew its stake in shares of Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lowe's Companies by 2.1% during the 4th 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 during the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies during the 4th quarter worth $1,842,954,000. Northern Trust Corp boosted its holdings in shares of Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after buying an additional 993,833 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Lowe's Companies by 10.2% during 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 buying an additional 385,994 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Price Performance

NYSE LOW traded down $3.63 on Thursday, reaching $223.74. 3,116,717 shares of the company's stock traded hands, compared to its average volume of 2,514,562. The stock has a market cap of $125.23 billion, a PE ratio of 18.66, a P/E/G ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The stock has a 50-day simple moving average of $224.69 and a 200 day simple moving average of $245.29.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.06%. Lowe's Companies's payout ratio is 37.67%.

Analyst Ratings Changes

Several brokerages have commented on LOW. Wells Fargo & Company lowered their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Piper Sandler decreased their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. DA Davidson dropped their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday. Truist Financial increased their target price on shares of Lowe's Companies from $258.00 to $264.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Morgan Stanley lowered their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $273.04.

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.