Polymer Capital Management US LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Polymer Capital Management US LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,096 shares of the home improvement retailer’s stock, valued at approximately $517,000.

A number of other large investors also recently bought and sold shares of the business. Klingenstein Fields & Co. LP boosted its holdings in shares of Lowe’s Companies by 1.0% in the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock valued at $1,012,000 after purchasing an additional 39 shares during the period. Saxony Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock valued at $245,000 after buying an additional 40 shares in the last quarter. Powers Advisory Group LLC grew its position in shares of Lowe’s Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after buying an additional 40 shares during the last quarter. Cordatus Wealth Management LLC raised its stake in shares of Lowe’s Companies by 0.3% during the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock worth $3,705,000 after acquiring an additional 41 shares in the last quarter. Finally, O Brien Greene & Co. Inc lifted its position in Lowe’s Companies by 1.5% during the fourth quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $223.05 on Monday. The stock has a market capitalization of $124.84 billion, a P/E ratio of 18.60, a PEG ratio of 1.96 and a beta of 1.07. The firm’s 50-day moving average is $242.39 and its two-hundred day moving average is $256.46. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 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 firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOW shares. Stifel Nicolaus upped their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler lowered their price target on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Truist Financial cut their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein upped their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $280.35.

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.