North Star Asset Management Inc. Lowers Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

North Star Asset Management Inc. cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,902 shares of the home improvement retailer's stock after selling 1,257 shares during the period. North Star Asset Management Inc.'s holdings in Lowe's Companies were worth $23,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LOW. Norges Bank purchased a new position in Lowe's Companies during the fourth quarter valued at $1,842,954,000. Kovitz Investment Group Partners LLC lifted its position in shares of Lowe's Companies by 350.2% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Lowe's Companies in the fourth quarter valued at about $314,435,000. Strategic Financial Concepts LLC lifted 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 acquiring an additional 1,223,116 shares in the last quarter. Finally, Northern Trust Corp lifted its position 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 acquiring an additional 993,833 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe's Companies Stock Performance

LOW stock traded up $4.61 during midday trading on Tuesday, reaching $225.68. 3,417,825 shares of the company traded hands, compared to its average volume of 2,517,974. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The business has a 50 day moving average of $224.52 and a 200-day moving average of $244.06. The firm has a market capitalization of $126.31 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data 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 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 the consensus estimate of $21.09 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The company's quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOW. Mizuho set a $280.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Piper Sandler lowered their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada lowered their price objective on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird lowered their price objective on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies 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.