Morningstar Investment Management LLC Buys Shares of 2,726 Lowe’s Companies, Inc. (NYSE:LOW)

Morningstar Investment Management LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,726 shares of the home improvement retailer’s stock, valued at approximately $607,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $1,638,746,000. Ontario Teachers Pension Plan Board lifted its position in Lowe’s Companies by 187,225.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after acquiring an additional 2,110,032 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $430,090,000. Schroder Investment Management Group raised its stake in shares of Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after purchasing an additional 1,831,727 shares during the period. Finally, Canoe Financial LP acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $206,912,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded up $2.98 during mid-day trading on Wednesday, reaching $219.51. 1,727,564 shares of the company’s stock were exchanged, compared to its average volume of 2,469,313. The firm has a market capitalization of $125.09 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.66 and a beta of 1.08. The business’s fifty day moving average price is $231.37 and its 200-day moving average price is $226.09. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio is 35.34%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Evercore ISI reduced their price objective on Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a research note on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, UBS Group increased their target price on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies 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.