Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,122 shares of the home improvement retailer’s stock after acquiring an additional 162 shares during the quarter. RNC Capital Management LLC’s holdings in Lowe’s Companies were worth $2,920,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dynamic Advisor Solutions LLC grew its holdings in shares of Lowe’s Companies by 33.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,345 shares of the home improvement retailer’s stock worth $695,000 after acquiring an additional 843 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of Lowe’s Companies by 100.4% in the third quarter. Meridian Wealth Management LLC now owns 31,158 shares of the home improvement retailer’s stock worth $6,492,000 after buying an additional 15,612 shares during the period. Biondo Investment Advisors LLC boosted its position in shares of Lowe’s Companies by 1.0% in the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after buying an additional 620 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Lowe’s Companies by 2.5% in the third quarter. Geneos Wealth Management Inc. now owns 6,950 shares of the home improvement retailer’s stock worth $1,444,000 after buying an additional 168 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Lowe’s Companies in the third quarter worth $40,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOW. Oppenheimer reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Monday, March 4th. Robert W. Baird raised Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, February 14th. Barclays lifted their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday. Finally, Piper Sandler lifted their price objective on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $251.60.

Lowe’s Companies Stock Up 0.8 %

LOW opened at $253.33 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a fifty day simple moving average of $231.47 and a 200 day simple moving average of $215.72. The stock has a market cap of $144.95 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.86 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share 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 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

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.