Summit Global Investments Buys 1,113 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Summit Global Investments increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 70.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,688 shares of the home improvement retailer’s stock after acquiring an additional 1,113 shares during the period. Summit Global Investments’ holdings in Lowe’s Companies were worth $598,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at $25,000. Orion Capital Management LLC acquired a new position in Lowe’s Companies in the third quarter valued at approximately $26,000. VisionPoint Advisory Group LLC boosted its stake in Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Lowe’s Companies during the 3rd quarter worth $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Lowe’s Companies during the 4th quarter worth $47,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 1.1 %

Shares of LOW opened at $232.13 on Friday. The stock has a market cap of $132.82 billion, a PE ratio of 17.64, a PEG ratio of 1.72 and a beta of 1.15. The business has a 50-day simple moving average of $240.07 and a two-hundred day simple moving average of $220.75. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 33.43%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Mizuho initiated coverage on Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. DA Davidson reissued a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Citigroup boosted their price objective on shares of Lowe’s Companies from $199.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, February 21st. Finally, Truist Financial increased their target price on Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $252.52.

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.