Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,620 shares of the home improvement retailer's stock after buying an additional 33,627 shares during the quarter. Lazard Asset Management LLC's holdings in Lowe's Companies were worth $43,588,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LOW. Norges Bank purchased a new stake in shares of Lowe's Companies in the 4th quarter valued at approximately $1,842,954,000. Kovitz Investment Group Partners LLC increased 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 valued at $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Lowe's Companies in the 4th quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC increased its position in shares of 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 valued at $303,096,000 after purchasing an additional 1,223,116 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of 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. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on LOW. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Tuesday, April 15th. Mizuho dropped their target price on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler dropped 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 report on Monday, March 24th. Finally, Morgan Stanley dropped their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $277.00.

Lowe's Companies Price Performance

Lowe's Companies stock traded up $1.75 during mid-day trading on Friday, reaching $234.20. The company had a trading volume of 1,818,109 shares, compared to its average volume of 2,506,804. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The company has a market capitalization of $131.09 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.96 and a beta of 1.00. The stock's 50-day simple moving average is $224.31 and its 200-day simple moving average is $246.13.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued 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. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.29 billion. On average, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $1.15 per share. The ex-dividend date 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%.

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.