HUB Investment Partners LLC Buys 760 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

HUB Investment Partners LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,698 shares of the home improvement retailer’s stock after acquiring an additional 760 shares during the quarter. HUB Investment Partners LLC’s holdings in Lowe’s Companies were worth $666,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp grew its holdings in shares of Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC increased its position in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock valued at $3,169,041,000 after buying an additional 187,473 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after buying an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Lowe’s Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after acquiring an additional 90,012 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $227.09 on Friday. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The company has a market capitalization of $128.23 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a 50-day simple moving average of $247.99 and a 200 day simple moving average of $257.70.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.03%. Lowe’s Companies’s payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LOW. Evercore ISI raised their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, February 26th. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Finally, Truist Financial cut their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.83.

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.