Norges Bank Acquires New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Norges Bank bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,467,400 shares of the home improvement retailer’s stock, valued at approximately $1,842,954,000. Norges Bank owned approximately 1.32% of Lowe’s Companies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. IFS Advisors LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Lowe’s Companies during the 3rd quarter valued at about $27,000. Winch Advisory Services LLC grew its position in Lowe’s Companies by 56.4% during the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth $31,000. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Lowe’s Companies during the 4th quarter valued at $33,000. 74.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. 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 for the company in a report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Stock Performance

LOW opened at $231.91 on Thursday. The business’s 50-day simple moving average is $246.76 and its 200 day simple moving average is $257.53. The firm has a market capitalization of $130.95 billion, a PE ratio of 19.34, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analysts’ expectations 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, research analysts forecast that Lowe’s Companies, Inc. will post 11.9 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 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

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.