Twinbeech Capital LP Invests $14.13 Million in Lowe's Companies, Inc. (NYSE:LOW)

Twinbeech Capital LP purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 57,253 shares of the home improvement retailer's stock, valued at approximately $14,130,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. Norges Bank bought a new position in Lowe's Companies during the fourth quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC lifted its holdings in 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 worth $585,770,000 after acquiring an additional 1,846,315 shares in the last quarter. Raymond James Financial Inc. bought a new position in Lowe's Companies during the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC lifted its holdings in Lowe's Companies by 24,531.0% during 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 acquiring an additional 1,223,116 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in 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 worth $1,745,960,000 after acquiring an additional 993,833 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Mizuho reduced their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a report on Tuesday, April 15th. Finally, Truist Financial cut their price target on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus target price of $276.17.

Lowe's Companies Stock Performance

NYSE:LOW 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 cap of $131.22 billion, a P/E ratio of 19.55, a P/E/G 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 earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently declared 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. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

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.

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