Principal Street Partners LLC Sells 1,533 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Principal Street Partners LLC lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 29.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,678 shares of the home improvement retailer's stock after selling 1,533 shares during the period. Principal Street Partners LLC's holdings in Lowe's Companies were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LOW. Norges Bank purchased a new stake in shares of Lowe's Companies in the 4th quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC lifted its position in Lowe's Companies by 350.2% during the 4th 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 period. Raymond James Financial Inc. bought a new stake in Lowe's Companies during the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC grew its holdings in 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 worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Finally, Northern Trust Corp increased its stake in shares of 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 valued at $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 0.1%

Shares of Lowe's Companies stock opened at $234.44 on Tuesday. The stock's 50-day simple moving average is $224.47 and its 200-day simple moving average is $245.52. The company has a market capitalization of $131.22 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders 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 yield of 1.96%. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent research reports. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research note on Friday, April 25th. Piper Sandler reduced their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Royal Bank of Canada lowered their price target on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their price objective 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.17.

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.

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