175,577 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 175,577 shares of the home improvement retailer’s stock, valued at approximately $43,380,000.

Several other institutional investors also recently modified their holdings of the stock. IFS Advisors LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies during the 3rd quarter worth about $27,000. Winch Advisory Services LLC lifted its stake in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $31,000. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $33,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.2 %

Shares of LOW stock opened at $223.05 on Friday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The firm’s fifty day simple moving average is $242.39 and its 200 day simple moving average is $256.47. The firm has a market capitalization of $124.84 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Equities research analysts anticipate 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 will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. Lowe’s Companies’s payout ratio is 37.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Royal Bank of Canada lowered their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.35.

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.