Lowe's Companies, Inc. (NYSE:LOW) Stake Reduced by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 72.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,341 shares of the home improvement retailer's stock after selling 32,859 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Lowe's Companies were worth $3,046,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LOW. Norges Bank purchased a new position in shares of Lowe's Companies during the 4th quarter valued at $1,842,954,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Lowe's Companies by 350.2% during 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 acquiring an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lowe's Companies during the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC lifted its holdings in shares of Lowe's Companies by 24,531.0% during 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 acquiring an additional 1,223,116 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Lowe's Companies by 16.3% during the 4th 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 during the last quarter. Institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Piper Sandler lowered their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada lowered their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Finally, BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $277.00.

Lowe's Companies Stock Up 0.8%

NYSE LOW traded up $1.75 on Friday, hitting $234.20. 1,818,109 shares of the stock were exchanged, compared to its average volume of 2,506,804. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The company has a market cap of $131.09 billion, a PE ratio of 19.53, a PEG ratio of 1.96 and a beta of 1.00. The company has a 50-day moving average price of $224.34 and a 200-day moving average price of $245.93.

Lowe's Companies (NYSE:LOW - Get Free Report) last released 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. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, April 23rd. 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.