Lowe's Companies, Inc. (NYSE:LOW) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc increased its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,610 shares of the home improvement retailer's stock after purchasing an additional 1,370 shares during the period. Versant Capital Management Inc's holdings in Lowe's Companies were worth $1,542,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LOW. Norges Bank bought a new position in shares of Lowe's Companies in the fourth quarter worth approximately $1,842,954,000. Kovitz Investment Group Partners LLC raised its position in shares of Lowe's Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock worth $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Lowe's Companies in the fourth quarter worth about $314,435,000. Strategic Financial Concepts LLC raised its position in Lowe's Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after buying an additional 1,223,116 shares during the last quarter. Finally, Northern Trust Corp increased 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 valued at $1,745,960,000 after buying an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Down 0.3%

Shares of LOW stock traded down $0.74 during trading hours on Monday, reaching $224.99. 2,597,025 shares of the company's stock were exchanged, compared to its average volume of 2,654,963. The stock's fifty day moving average price is $224.20 and its two-hundred day moving average price is $242.76. The stock has a market cap of $125.93 billion, a PE ratio of 18.76, a PEG ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results 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. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business earned $3.06 EPS. On average, equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.13%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analysts Set New Price Targets

LOW has been the subject of a number of research reports. DA Davidson dropped 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 report on Thursday, May 22nd. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Piper Sandler reduced their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Mizuho set a $280.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, 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. One 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's stock. According to 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 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.