Stenger Family Office LLC Makes New $1.21 Million Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Stenger Family Office LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, Holdings Channel reports. The fund bought 4,889 shares of the home improvement retailer’s stock, valued at approximately $1,207,000.

A number of other hedge funds have also added to or reduced their stakes in LOW. Invst LLC acquired a new stake in Lowe’s Companies in the third quarter worth $255,000. Virtu Financial LLC boosted its position in shares of Lowe’s Companies by 66.1% during the 3rd quarter. Virtu Financial LLC now owns 5,474 shares of the home improvement retailer’s stock worth $1,483,000 after purchasing an additional 2,178 shares in the last quarter. Tudor Financial Inc. acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $1,877,000. Anchor Investment Management LLC increased its position in Lowe’s Companies by 2.6% in the 3rd quarter. Anchor Investment Management LLC now owns 45,537 shares of the home improvement retailer’s stock valued at $12,334,000 after buying an additional 1,161 shares in the last quarter. Finally, World Investment Advisors LLC raised its stake in Lowe’s Companies by 7.6% during the 3rd quarter. World Investment Advisors LLC now owns 23,714 shares of the home improvement retailer’s stock worth $6,423,000 after buying an additional 1,670 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler reduced their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Bank of America reduced their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Truist Financial lowered their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Mizuho lowered their target price on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.74.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $220.46 on Wednesday. The firm has a market cap of $123.40 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 1.07. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The firm’s 50-day simple moving average is $234.86 and its two-hundred day simple moving average is $253.76.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $18.29 billion. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.09%. Lowe’s Companies’s payout ratio is 37.67%.

Lowe’s Companies Company 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.