BridgePort Financial Solutions LLC Purchases Shares of 3,529 Lowe's Companies, Inc. (NYSE:LOW)

BridgePort Financial Solutions LLC purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,529 shares of the home improvement retailer's stock, valued at approximately $866,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $1,842,954,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Lowe's Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after acquiring an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC grew its position in shares of Lowe's Companies by 24,531.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Finally, Northern Trust Corp increased its holdings 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 valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.5%

Shares of NYSE:LOW traded down $1.09 during trading on Wednesday, hitting $224.72. 2,213,187 shares of the stock were exchanged, compared to its average volume of 2,514,542. The company has a fifty day moving average price of $224.46 and a two-hundred day moving average price of $243.80. The company has a market cap of $125.78 billion, a PE ratio of 18.74, 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.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 EPS. The company's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate 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 disclosed 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 of this dividend was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.05%. Lowe's Companies's dividend payout ratio is currently 38.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America cut their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Robert W. Baird lowered their price objective on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Wednesday, May 21st. Finally, Citigroup reiterated a "neutral" rating and issued a $253.00 price objective (down from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Company 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.