Vident Advisory LLC Increases Stake in Lowe's Companies, Inc. (NYSE:LOW)

Vident Advisory LLC lifted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 239.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,079 shares of the home improvement retailer's stock after acquiring an additional 48,047 shares during the period. Vident Advisory LLC's holdings in Lowe's Companies were worth $16,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Klingenstein Fields & Co. LP lifted its stake in Lowe's Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer's stock valued at $1,012,000 after purchasing an additional 39 shares during the last quarter. Saxony Capital Management LLC grew its holdings in shares of Lowe's Companies by 4.2% during the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer's stock worth $245,000 after purchasing an additional 40 shares in the last quarter. Powers Advisory Group LLC increased its holdings in shares of Lowe's Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer's stock worth $380,000 after buying an additional 40 shares during the last quarter. Gen Wealth Partners Inc lifted its holdings in shares of Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after acquiring an additional 40 shares during the last quarter. Finally, Cordatus Wealth Management LLC lifted its holdings in shares of Lowe's Companies by 0.3% during the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer's stock worth $3,705,000 after acquiring an additional 41 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

Shares of LOW stock traded down $3.63 during trading hours on Thursday, reaching $223.74. 3,116,717 shares of the company traded hands, compared to its average volume of 2,513,541. The firm has a 50-day moving average price of $224.69 and a 200 day moving average price of $245.29. The company has a market cap of $125.23 billion, a P/E ratio of 18.66, a P/E/G 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.

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 for 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%. The firm's revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.06 EPS. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOW. Royal Bank of Canada lowered their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday. Piper Sandler cut their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. DA Davidson cut their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $273.04.

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.