Arrowstreet Capital Limited Partnership Sells 393,186 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,279,009 shares of the home improvement retailer’s stock after selling 393,186 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lowe’s Companies were worth $315,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. BlueChip Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 30.1% during the 4th quarter. BlueChip Wealth Advisors LLC now owns 985 shares of the home improvement retailer’s stock worth $243,000 after purchasing an additional 228 shares in the last quarter. Allianz SE bought a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $9,153,000. Cambridge Financial Group Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $7,780,000. Intrust Bank NA grew its stake in Lowe’s Companies by 1.5% during the fourth quarter. Intrust Bank NA now owns 8,996 shares of the home improvement retailer’s stock valued at $2,220,000 after acquiring an additional 130 shares in the last quarter. Finally, Allstate Corp purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $4,147,000. 74.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

LOW has been the subject of a number of recent analyst reports. Piper Sandler reduced their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Evercore ISI raised their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $279.71.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $228.20 on Friday. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a 50-day moving average of $245.57 and a 200 day moving average of $257.31. The firm has a market cap of $127.73 billion, a price-to-earnings ratio of 19.03, a PEG 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 (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s payout ratio is presently 37.67%.

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.