Cypress Asset Management Inc. TX Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cypress Asset Management Inc. TX bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 18,711 shares of the home improvement retailer’s stock, valued at approximately $4,675,000. Lowe’s Companies comprises about 1.2% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of LOW. FMR LLC raised its position in Lowe’s Companies by 1.0% during the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after purchasing an additional 259,766 shares during the last quarter. Geode Capital Management LLC raised its position in Lowe’s Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter valued at approximately $1,842,954,000. Northern Trust Corp raised its position in Lowe’s Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Lowe’s Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock valued at $1,242,793,000 after purchasing an additional 323,371 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.2%

Lowe’s Companies stock opened at $221.08 on Friday. The stock’s 50 day moving average is $224.61 and its 200 day moving average is $244.56. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market capitalization of $123.74 billion, a P/E ratio of 18.44, a PEG ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the business posted $3.06 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.08%. Lowe’s Companies’s dividend payout ratio is 37.67%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of recent analyst reports. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a report on Friday, April 25th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, DA Davidson reduced their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.52.

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.