Allspring Global Investments Holdings LLC Has $7.14 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Allspring Global Investments Holdings LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,070 shares of the home improvement retailer’s stock after selling 8,212 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lowe’s Companies were worth $7,137,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Morgan Stanley increased its position in shares of Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter worth about $1,461,267,000. Northern Trust Corp raised its stake in shares of Lowe’s Companies by 1.1% in the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock valued at $1,483,733,000 after purchasing an additional 78,901 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Lowe’s Companies by 107,710.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after buying an additional 1,831,727 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. Gordon Haskett reissued a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their target price on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Barclays lifted their price target on shares of Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research note on Thursday, January 4th. DA Davidson restated a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Stock Up 0.2 %

Shares of Lowe’s Companies stock opened at $228.86 on Thursday. The stock has a market capitalization of $130.95 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The company has a 50-day simple moving average of $239.29 and a two-hundred day simple moving average of $218.38.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

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

Lowe’s Companies 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.