Fifth Third Bancorp Has $88.49 Million Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Fifth Third Bancorp reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,385 shares of the home improvement retailer's stock after selling 12,087 shares during the quarter. Fifth Third Bancorp owned 0.06% of Lowe's Companies worth $88,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LOW. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe's Companies in the fourth quarter valued at about $25,000. Orion Capital Management LLC acquired a new position in Lowe's Companies in the 3rd quarter valued at approximately $26,000. Tidemark LLC bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $28,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $31,000. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent research reports. DA Davidson reiterated a "neutral" rating and set a $270.00 price target on shares of Lowe's Companies in a research note on Wednesday, March 27th. UBS Group lifted their target price on shares of Lowe's Companies from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Truist Financial raised their price target on shares of Lowe's Companies from $258.00 to $271.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on Lowe's Companies from $190.00 to $246.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 28th. Finally, Citigroup raised their target price on Lowe's Companies from $199.00 to $236.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $252.52.

Lowe's Companies Stock Performance

NYSE:LOW traded up $2.06 on Thursday, hitting $229.58. 1,666,192 shares of the stock were exchanged, compared to its average volume of 2,475,893. The stock has a market capitalization of $131.36 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.69 and a beta of 1.15. Lowe's Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company's 50-day moving average price is $240.08 and its 200 day moving average price is $220.52.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe's Companies had a net margin of 8.94% and a negative return on equity of 51.42%. Lowe's Companies's revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 earnings per share. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe's Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe's Companies's payout ratio is 33.43%.

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.

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