Allspring Global Investments Holdings LLC Has $23.44 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Allspring Global Investments Holdings LLC increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,174 shares of the home improvement retailer's stock after acquiring an additional 4,846 shares during the period. Allspring Global Investments Holdings LLC's holdings in Lowe's Companies were worth $23,442,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC boosted its position in 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 worth $6,483,558,000 after acquiring an additional 259,766 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe's Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after purchasing an additional 245,876 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies in the fourth quarter worth $1,842,954,000. Northern Trust Corp boosted its holdings in Lowe's Companies by 16.3% during 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lowe's Companies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after purchasing an additional 323,371 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein set a $266.00 price target on shares of Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus dropped their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Trading Up 0.5%

LOW stock traded up $1.06 during mid-day trading on Thursday, hitting $228.00. 1,777,904 shares of the company were exchanged, compared to its average volume of 2,498,145. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock has a market capitalization of $127.78 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. The business has a 50 day simple moving average of $223.73 and a 200-day simple moving average of $235.45.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 earnings per share. Equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. Lowe's Companies's dividend payout ratio is 38.11%.

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.