192,403 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, Holdings Channel reports. The fund acquired 192,403 shares of the home improvement retailer’s stock, valued at approximately $47,485,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Lowe’s Companies in the third quarter worth approximately $27,000. Winch Advisory Services LLC boosted its stake in Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $44,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Up 0.4 %

LOW stock opened at $227.09 on Friday. The company’s 50-day simple moving average is $247.99 and its 200-day simple moving average is $257.70. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The firm has a market cap of $128.23 billion, a P/E ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LOW shares. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Sanford C. Bernstein lifted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.