Penobscot Investment Management Company Inc. Has $2.51 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Penobscot Investment Management Company Inc. lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,157 shares of the home improvement retailer’s stock after selling 105 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Lowe’s Companies were worth $2,507,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its holdings in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after purchasing an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after purchasing an additional 501 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its position in shares of Lowe’s Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after buying an additional 7,187 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.0 %

Shares of NYSE LOW opened at $230.61 on Wednesday. The firm’s 50-day moving average price is $247.26 and its 200-day moving average price is $257.71. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The firm has a market capitalization of $130.21 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $18.29 billion. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Mizuho reduced their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Evercore ISI lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Bank of America cut their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $279.71.

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.