Welch & Forbes LLC Boosts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Welch & Forbes LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,514 shares of the home improvement retailer’s stock after acquiring an additional 112 shares during the quarter. Welch & Forbes LLC’s holdings in Lowe’s Companies were worth $3,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Management Group Inc. boosted its holdings in shares of Lowe’s Companies by 4.0% in the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after buying an additional 46 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in Lowe’s Companies by 1.9% during the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares in the last quarter. Hamilton Capital LLC lifted its holdings in Lowe’s Companies by 2.1% during the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock valued at $507,000 after purchasing an additional 49 shares in the last quarter. Abundance Wealth Counselors lifted its holdings in Lowe’s Companies by 0.8% during the fourth quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock valued at $1,485,000 after purchasing an additional 50 shares in the last quarter. Finally, YHB Investment Advisors Inc. lifted its holdings in Lowe’s Companies by 0.6% during the fourth quarter. YHB Investment Advisors Inc. now owns 9,013 shares of the home improvement retailer’s stock valued at $2,006,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.1 %

LOW traded down $0.25 on Tuesday, hitting $231.45. 1,912,237 shares of the company’s stock were exchanged, compared to its average volume of 2,453,542. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a 50-day moving average price of $240.00 and a 200-day moving average price of $221.68. The stock has a market cap of $132.43 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.72 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last announced its 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 analysts’ expectations of $18.47 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. On average, equities analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s payout ratio is 33.43%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LOW. Truist Financial lifted their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Zelman & Associates reissued a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. DA Davidson reissued a “neutral” rating and issued a $270.00 target price on shares of Lowe’s Companies in a report on Wednesday, March 27th. Finally, Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Wednesday, February 14th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $252.67.

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.