Optas LLC Buys 67 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Optas LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,266 shares of the home improvement retailer’s stock after buying an additional 67 shares during the quarter. Optas LLC’s holdings in Lowe’s Companies were worth $322,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $1,638,746,000. International Assets Investment Management LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at about $430,090,000. Schroder Investment Management Group boosted its holdings in Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after buying an additional 1,831,727 shares during the last quarter. Canoe Financial LP bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $206,912,000. Finally, Aristotle Capital Management LLC raised its position in shares of Lowe’s Companies by 143.8% in the 3rd quarter. Aristotle Capital Management LLC now owns 1,361,716 shares of the home improvement retailer’s stock valued at $283,019,000 after acquiring an additional 803,216 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock traded up $0.66 on Friday, hitting $220.46. The stock had a trading volume of 12,630,451 shares, compared to its average volume of 2,428,194. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market capitalization of $125.63 billion, a P/E ratio of 17.71, a PEG ratio of 1.69 and a beta of 1.08. The stock has a 50 day moving average of $225.32 and a 200 day moving average of $228.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the business posted $3.67 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s payout ratio is 35.34%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Monday, March 4th. Citigroup cut their price target on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Truist Financial decreased their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Zelman & Associates reiterated a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $251.33.

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.