Investment Management Corp VA ADV Acquires Shares of 96,572 Lowe's Companies, Inc. (NYSE:LOW)

Investment Management Corp VA ADV bought a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 96,572 shares of the home improvement retailer's stock, valued at approximately $23,834,000. Lowe's Companies comprises about 21.3% of Investment Management Corp VA ADV's investment portfolio, making the stock its largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Investment Management LLC bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $31,000. Caisse Des Depots ET Consignations bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $36,000. Measured Risk Portfolios Inc. bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $42,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $44,000. Institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

LOW has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a research note on Friday, April 25th. Piper Sandler reduced their target price on shares of 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. Finally, DA Davidson reduced their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Stock Up 2.1%

Shares of LOW stock traded up $4.61 during trading hours on Tuesday, reaching $225.68. 3,415,984 shares of the stock traded hands, compared to its average volume of 2,637,393. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The business has a fifty day moving average price of $224.52 and a 200 day moving average price of $244.06. The firm has a market capitalization of $126.31 billion, a PE ratio of 18.82, a PEG ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the business earned $3.06 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. Research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $1.15 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.04%. Lowe's Companies's dividend payout ratio is currently 38.11%.

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.