Golden State Equity Partners Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Golden State Equity Partners increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 42.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,962 shares of the home improvement retailer’s stock after buying an additional 2,353 shares during the period. Golden State Equity Partners’ holdings in Lowe’s Companies were worth $1,772,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in LOW. Harbour Trust & Investment Management Co acquired a new position in Lowe’s Companies during the fourth quarter worth $5,890,000. Syon Capital LLC raised its position in Lowe’s Companies by 23.3% during the fourth quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock worth $1,587,000 after acquiring an additional 1,345 shares during the period. Biondo Investment Advisors LLC raised its position in Lowe’s Companies by 1.0% during the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock worth $12,669,000 after acquiring an additional 620 shares during the period. Perigon Wealth Management LLC raised its position in Lowe’s Companies by 18.6% during the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after acquiring an additional 584 shares during the period. Finally, Legacy CG LLC raised its position in Lowe’s Companies by 25.0% during the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock worth $5,107,000 after acquiring an additional 4,583 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $229.87 on Friday. The firm has a market cap of $131.53 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. The company has a 50-day moving average of $239.98 and a two-hundred day moving average of $219.82. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

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

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Evercore ISI reduced their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Stifel Nicolaus reduced their target price on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Mizuho started coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.