Occudo Quantitative Strategies LP Acquires Shares of 22,559 Lowe's Companies, Inc. (NYSE:LOW)

Occudo Quantitative Strategies LP purchased 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 disclosure with the Securities and Exchange Commission. The fund purchased 22,559 shares of the home improvement retailer's stock, valued at approximately $5,568,000. Lowe's Companies accounts for about 1.0% of Occudo Quantitative Strategies LP's holdings, making the stock its 7th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its holdings in Lowe's Companies by 32.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 571,758 shares of the home improvement retailer's stock valued at $141,110,000 after acquiring an additional 140,359 shares in the last quarter. Obermeyer Wealth Partners raised its stake in shares of Lowe's Companies by 3.8% in the 4th quarter. Obermeyer Wealth Partners now owns 19,734 shares of the home improvement retailer's stock valued at $4,870,000 after purchasing an additional 716 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of Lowe's Companies during the fourth quarter worth about $42,000. MJP Associates Inc. ADV grew its stake in Lowe's Companies by 9.8% in the fourth quarter. MJP Associates Inc. ADV now owns 1,073 shares of the home improvement retailer's stock worth $265,000 after purchasing an additional 96 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Lowe's Companies by 23.5% in the fourth quarter. Lazard Asset Management LLC now owns 176,620 shares of the home improvement retailer's stock valued at $43,588,000 after buying an additional 33,627 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Price Performance

Shares of NYSE LOW traded up $1.75 during midday trading on Friday, reaching $234.20. 1,818,109 shares of the company traded hands, compared to its average volume of 2,506,804. The company has a market cap of $131.09 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.96 and a beta of 1.00. The stock has a 50-day moving average price of $224.31 and a 200 day moving average price of $246.13. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

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, topping analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion for 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, analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $1.15 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.96%. Lowe's Companies's dividend payout ratio (DPR) is 37.67%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. DA Davidson reaffirmed a "neutral" rating and set a $270.00 target price on shares of Lowe's Companies in a report on Wednesday, April 16th. Mizuho reduced their price objective on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada lowered their target price 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. Truist Financial reduced their price target on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $277.00.

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.