Lowe's Companies, Inc. (NYSE:LOW) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 350.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,373,460 shares of the home improvement retailer's stock after purchasing an additional 1,846,315 shares during the quarter. Lowe's Companies accounts for approximately 1.9% of Kovitz Investment Group Partners LLC's portfolio, making the stock its 14th biggest position. Kovitz Investment Group Partners LLC owned about 0.42% of Lowe's Companies worth $585,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. FMR LLC grew its holdings in shares of 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 valued at $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC increased 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 period. Norges Bank acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at $1,842,954,000. Bank of New York Mellon Corp boosted its holdings in Lowe's Companies by 10.2% in the fourth 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Lowe's Companies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock valued at $853,697,000 after purchasing an additional 90,012 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Performance

NYSE:LOW traded down $2.12 during mid-day trading on Wednesday, hitting $221.15. 564,623 shares of the company's stock traded hands, compared to its average volume of 2,468,680. The company has a market cap of $123.78 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The firm's 50 day simple moving average is $228.32 and its 200 day simple moving average is $250.06. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted 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. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, research 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LOW shares. Bank of America reduced their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. DA Davidson reissued a "neutral" rating and issued a $270.00 price objective on shares of Lowe's Companies in a research report on Wednesday, April 16th. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a report on Friday, April 25th. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Tuesday, April 15th. One investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $278.21.

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.