Lowe’s Companies, Inc. (NYSE:LOW) Stake Decreased by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 34.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 160,161 shares of the home improvement retailer’s stock after selling 82,558 shares during the quarter. Pinebridge Investments L.P.’s holdings in Lowe’s Companies were worth $39,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in LOW. Alta Advisers Ltd increased its holdings in shares of Lowe’s Companies by 12.5% during the fourth quarter. Alta Advisers Ltd now owns 1,913 shares of the home improvement retailer’s stock valued at $472,000 after purchasing an additional 213 shares during the period. Soros Capital Management LLC grew its position in Lowe’s Companies by 16.0% in the 4th quarter. Soros Capital Management LLC now owns 2,909 shares of the home improvement retailer’s stock valued at $718,000 after buying an additional 401 shares in the last quarter. Fayez Sarofim & Co increased its stake in Lowe’s Companies by 2.3% during the 4th quarter. Fayez Sarofim & Co now owns 7,685 shares of the home improvement retailer’s stock valued at $1,897,000 after buying an additional 174 shares during the period. Canal Capital Management LLC raised its position in shares of Lowe’s Companies by 5.7% during the 4th quarter. Canal Capital Management LLC now owns 1,570 shares of the home improvement retailer’s stock worth $387,000 after buying an additional 85 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its stake in shares of Lowe’s Companies by 27.5% in the 4th quarter. J. Safra Sarasin Holding AG now owns 106,019 shares of the home improvement retailer’s stock worth $26,166,000 after acquiring an additional 22,887 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LOW has been the topic of a number of research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 15th. Bank of America dropped their price objective 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. Truist Financial decreased their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $278.74.

Lowe’s Companies Stock Performance

LOW stock opened at $219.03 on Wednesday. The firm has a 50 day simple moving average of $231.16 and a 200 day simple moving average of $251.89. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The stock has a market cap of $122.59 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

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 given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

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.