KLP Kapitalforvaltning AS Takes $47.49 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

KLP Kapitalforvaltning AS bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 192,403 shares of the home improvement retailer’s stock, valued at approximately $47,485,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sfmg LLC raised its position in Lowe’s Companies by 8.7% during the fourth quarter. Sfmg LLC now owns 5,387 shares of the home improvement retailer’s stock valued at $1,329,000 after acquiring an additional 433 shares in the last quarter. Sei Investments Co. boosted its stake in Lowe’s Companies by 1.2% during the fourth quarter. Sei Investments Co. now owns 519,327 shares of the home improvement retailer’s stock worth $128,166,000 after buying an additional 5,991 shares in the last quarter. American Century Companies Inc. boosted its stake in Lowe’s Companies by 3.3% during the fourth quarter. American Century Companies Inc. now owns 1,351,674 shares of the home improvement retailer’s stock worth $333,593,000 after buying an additional 42,815 shares in the last quarter. Plancorp LLC boosted its stake in shares of Lowe’s Companies by 17.2% in the 4th quarter. Plancorp LLC now owns 2,005 shares of the home improvement retailer’s stock valued at $495,000 after purchasing an additional 294 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter valued at about $53,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $227.09 on Friday. The company has a 50 day moving average price of $247.99 and a 200 day moving average price of $257.70. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The stock has a market capitalization of $128.23 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping 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 firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. On average, sell-side analysts expect 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. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.03%. Lowe’s Companies’s payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Guggenheim reissued a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Truist Financial dropped their price objective on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Bank of America dropped their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus increased their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $280.83.

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.