Perennial Investment Advisors LLC Purchases 301 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Perennial Investment Advisors LLC boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,518 shares of the home improvement retailer’s stock after acquiring an additional 301 shares during the period. Perennial Investment Advisors LLC’s holdings in Lowe’s Companies were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LOW. United Bank lifted its position in Lowe’s Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after purchasing an additional 137 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $205,000. Wellington Management Group LLP grew its position in Lowe’s Companies by 14.4% in the third quarter. Wellington Management Group LLP now owns 721,116 shares of the home improvement retailer’s stock worth $195,314,000 after acquiring an additional 90,750 shares in the last quarter. Zacks Investment Management increased its stake in Lowe’s Companies by 7.4% during the third quarter. Zacks Investment Management now owns 3,166 shares of the home improvement retailer’s stock worth $858,000 after acquiring an additional 217 shares during the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC raised its position in Lowe’s Companies by 0.4% during the third quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,758 shares of the home improvement retailer’s stock valued at $5,081,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.2 %

Shares of NYSE LOW opened at $223.05 on Friday. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The stock’s fifty day simple moving average is $242.39 and its two-hundred day simple moving average is $256.46. The stock has a market capitalization of $124.84 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.06%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

LOW has been the subject of a number of recent research reports. Mizuho dropped their target price on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Truist Financial dropped their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.35.

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.