FORA Capital LLC Takes Position in Lowe's Companies, Inc. (NYSE:LOW)

FORA Capital LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,033 shares of the home improvement retailer's stock, valued at approximately $10,374,000. Lowe's Companies accounts for 1.2% of FORA Capital LLC's portfolio, making the stock its 13th biggest position.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its position in Lowe's Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after buying an additional 259,766 shares during the period. Geode Capital Management LLC grew its position in shares of Lowe's Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after acquiring an additional 245,876 shares during the last quarter. Norges Bank acquired a new stake in shares of Lowe's Companies in the 4th quarter worth about $1,842,954,000. Northern Trust Corp lifted its position in Lowe's Companies by 16.3% in the 4th 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Lowe's Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock valued at $1,033,283,000 after purchasing an additional 385,994 shares during the period. Institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on LOW shares. Morgan Stanley lowered their target price on 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. Truist Financial lowered 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. Bank of America reduced their price objective on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Piper Sandler lowered 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. Finally, DA Davidson restated a "neutral" rating and set a $270.00 price target on shares of Lowe's Companies in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus price target of $278.04.

Lowe's Companies Trading Down 1.0 %

Shares of Lowe's Companies stock traded down $2.31 during trading hours on Friday, reaching $222.17. 2,053,748 shares of the company's stock were exchanged, compared to its average volume of 2,499,358. The stock has a market cap of $124.35 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.96 and a beta of 1.00. The company has a 50 day moving average of $225.26 and a two-hundred day moving average of $247.03. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.29 billion. As a group, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe's Companies's dividend payout ratio 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.