Lafayette Investments Inc. Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lafayette Investments Inc. grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,224 shares of the home improvement retailer’s stock after purchasing an additional 978 shares during the period. Lowe’s Companies comprises approximately 2.4% of Lafayette Investments Inc.’s holdings, making the stock its 11th largest holding. Lafayette Investments Inc.’s holdings in Lowe’s Companies were worth $9,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at $1,461,267,000. Moneta Group Investment Advisors LLC increased its stake in shares of Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after buying an additional 5,075,327 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of Lowe’s Companies by 187,225.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after buying an additional 2,110,032 shares during the period. Morgan Stanley increased its stake in shares of Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after buying an additional 2,050,089 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at $430,090,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.0 %

Shares of Lowe’s Companies stock traded down $0.10 on Thursday, reaching $228.76. The company’s stock had a trading volume of 1,993,108 shares, compared to its average volume of 2,552,402. The company has a market capitalization of $130.89 billion, a P/E ratio of 17.38, a PEG ratio of 1.69 and a beta of 1.13. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The stock has a 50-day moving average price of $239.46 and a 200-day moving average price of $218.46.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Barclays raised their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Finally, Mizuho assumed coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $252.52.

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.