Franklin Street Advisors Inc. NC Has $3.76 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Franklin Street Advisors Inc. NC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 59.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,892 shares of the home improvement retailer’s stock after selling 24,515 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Lowe’s Companies were worth $3,759,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Axiom Financial Strategies LLC boosted its position in shares of Lowe’s Companies by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock worth $275,000 after buying an additional 123 shares during the period. United Bank boosted its position in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock worth $1,968,000 after acquiring an additional 617 shares during the last quarter. Prudential PLC acquired a new position in Lowe’s Companies during the 1st quarter worth approximately $1,629,000. Baird Financial Group Inc. raised its holdings in shares of Lowe’s Companies by 0.4% in the first quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after purchasing an additional 920 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Lowe’s Companies by 74.6% in the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock worth $60,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LOW. Piper Sandler boosted their price target on shares of Lowe’s Companies from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Wedbush raised their price target on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. DA Davidson reiterated a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research note on Wednesday. Mizuho assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $251.60.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $254.73 on Friday. The stock has a fifty day moving average of $232.18 and a 200-day moving average of $215.99. The stock has a market capitalization of $145.75 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

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

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is 33.43%.

Lowe’s Companies Company 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.