Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,937 shares of the home improvement retailer’s stock after selling 826 shares during the period. Lowe’s Companies comprises approximately 0.5% of Hoey Investments Inc.’s portfolio, making the stock its 18th biggest holding. Hoey Investments Inc.’s holdings in Lowe’s Companies were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Lowe’s Companies in the fourth quarter valued at $1,842,954,000. Raymond James Financial Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $314,435,000. Strategic Financial Concepts LLC raised its holdings in Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Amundi boosted its position in Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after purchasing an additional 844,217 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LOW shares. Piper Sandler decreased their target price on 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. Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Truist Financial cut their target price on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Trading Down 1.7 %

LOW stock opened at $228.20 on Monday. The business has a 50 day simple moving average of $245.57 and a 200-day simple moving average of $257.38. The company has a market capitalization of $127.73 billion, a P/E ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01.

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 the consensus estimate 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 the consensus estimate of $18.29 billion. Research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.02%. 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.