Meeder Asset Management Inc. Purchases 1,343 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,172 shares of the home improvement retailer’s stock after buying an additional 1,343 shares during the period. Meeder Asset Management Inc.’s holdings in Lowe’s Companies were worth $6,212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter worth $1,842,954,000. Raymond James Financial Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth about $314,435,000. Strategic Financial Concepts LLC lifted its holdings in Lowe’s Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after buying an additional 1,223,116 shares during the period. Amundi grew its position in shares of Lowe’s Companies by 60.1% in the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after buying an additional 844,217 shares during the period. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LOW. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Truist Financial dropped their price target on shares of 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 decreased their price objective on shares of 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. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, 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 research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Stock Performance

LOW opened at $228.20 on Monday. The firm has a market cap of $127.73 billion, a P/E ratio of 19.03, a PEG 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. The firm has a 50-day moving average of $245.57 and a 200 day moving average of $257.38.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio is presently 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.