Lowe’s Companies, Inc. (NYSE:LOW) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,166 shares of the home improvement retailer’s stock after buying an additional 15,517 shares during the period. Mackenzie Financial Corp’s holdings in Lowe’s Companies were worth $26,743,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Hamilton Capital LLC boosted its stake in Lowe’s Companies by 2.1% in the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after purchasing an additional 49 shares during the period. Abundance Wealth Counselors boosted its stake in Lowe’s Companies by 0.8% in the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after purchasing an additional 50 shares during the period. YHB Investment Advisors Inc. boosted its stake in Lowe’s Companies by 0.6% in the 4th quarter. YHB Investment Advisors Inc. now owns 9,013 shares of the home improvement retailer’s stock worth $2,006,000 after purchasing an additional 50 shares during the period. Thomasville National Bank boosted its stake in Lowe’s Companies by 0.4% in the 4th quarter. Thomasville National Bank now owns 11,803 shares of the home improvement retailer’s stock worth $2,627,000 after purchasing an additional 52 shares during the period. Finally, Stonegate Investment Group LLC boosted its stake in Lowe’s Companies by 0.5% in the 4th quarter. Stonegate Investment Group LLC now owns 10,338 shares of the home improvement retailer’s stock worth $2,301,000 after purchasing an additional 52 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Truist Financial increased their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. UBS Group increased their target price on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus cut their target price on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Price Performance

NYSE LOW opened at $228.86 on Thursday. The firm has a market capitalization of $130.95 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.69 and a beta of 1.13. The company’s fifty day moving average is $239.29 and its two-hundred day moving average is $218.38. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

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

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend 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.