Palisade Asset Management LLC Has $1.74 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Palisade Asset Management LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,829 shares of the home improvement retailer’s stock after acquiring an additional 476 shares during the period. Palisade Asset Management LLC’s holdings in Lowe’s Companies were worth $1,742,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $25,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the 3rd quarter worth $26,000. VisionPoint Advisory Group LLC increased its position in shares of Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Lowe’s Companies during the third quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth about $47,000. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on LOW. Wedbush boosted their price objective on shares of Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Morgan Stanley increased their price target on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. DA Davidson restated a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Piper Sandler upped their target price on Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Oppenheimer restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Hold” and a consensus price target of $252.67.

Lowe’s Companies Stock Up 0.3 %

LOW traded up $0.61 on Wednesday, reaching $232.07. 1,671,101 shares of the company traded hands, compared to its average volume of 2,438,193. The company has a market cap of $132.79 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The firm has a fifty day simple moving average of $240.00 and a two-hundred day simple moving average of $221.68. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 earnings per share. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 33.43%.

About Lowe’s Companies

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.