Partners in Financial Planning Makes New $579,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Partners in Financial Planning acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,348 shares of the home improvement retailer’s stock, valued at approximately $579,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC raised its holdings in shares of Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after acquiring an additional 1,223,116 shares in the last quarter. Amundi lifted its stake in Lowe’s Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after acquiring an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in 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 acquiring an additional 844,217 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 1.7 %

Shares of Lowe’s Companies stock opened at $228.20 on Monday. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The company’s 50 day moving average is $245.57 and its 200 day moving average is $257.38. The company has a market cap of $127.73 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm 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. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LOW. Sanford C. Bernstein upped their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Bank of America decreased their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Guggenheim reissued a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $279.71.

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.