Investment Management Corp VA ADV Invests $23.83 Million in Lowe's Companies, Inc. (NYSE:LOW)

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

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

Analysts Set New Price Targets

Several equities research analysts recently commented on LOW shares. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Piper Sandler decreased 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 report on Monday, March 24th. JPMorgan Chase & Co. dropped their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird reduced their price objective on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. 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 report on Wednesday, May 14th. One equities research 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Price Performance

LOW stock traded up $0.24 on Wednesday, reaching $226.05. 772,496 shares of the company were exchanged, compared to its average volume of 2,511,198. The firm has a market capitalization of $126.52 billion, a PE ratio of 18.84, a PEG 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's fifty day moving average price is $224.51 and its 200 day moving average price is $243.93.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the company earned $3.06 EPS. The company's quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders 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 2.03%. Lowe's Companies's dividend payout ratio (DPR) is currently 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.