United Bank Has $2.74 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

United Bank boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,113 shares of the home improvement retailer’s stock after buying an additional 1,014 shares during the period. Lowe’s Companies makes up about 1.2% of United Bank’s portfolio, making the stock its 28th largest position. United Bank’s holdings in Lowe’s Companies were worth $2,743,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $27,000. IFS Advisors LLC bought a new stake in Lowe’s Companies during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $31,000. Winch Advisory Services LLC lifted its holdings in shares of 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 valued at $30,000 after purchasing an additional 44 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $33,000. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LOW shares. Mizuho dropped their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Evercore ISI lifted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada cut their target price on 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $279.71.

Lowe’s Companies Stock Performance

NYSE LOW opened at $228.20 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market cap of $127.73 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The stock has a 50 day simple moving average of $245.57 and a two-hundred day simple moving average of $257.31.

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, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.02%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

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.