Millstone Evans Group LLC Makes New $44,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Millstone Evans Group LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 178 shares of the home improvement retailer’s stock, valued at approximately $44,000.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Lowe’s Companies by 10.2% during 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 raised its holdings in 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 last quarter. Geode Capital Management LLC boosted its position in Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after buying an additional 187,473 shares during the period. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Lowe’s Companies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after acquiring an additional 90,012 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $227.09 on Monday. The stock’s 50 day simple moving average is $247.99 and its 200 day simple moving average is $257.88. The company has a market cap 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. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

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

Lowe’s Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOW. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Truist Financial reduced their price target on 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. Bank of America lowered their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.83.

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.