Canal Capital Management LLC Buys 85 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Canal Capital Management LLC boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,570 shares of the home improvement retailer’s stock after purchasing an additional 85 shares during the quarter. Canal Capital Management LLC’s holdings in Lowe’s Companies were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its stake in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock worth $98,104,000 after buying an additional 4,435 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after acquiring an additional 501 shares in the last quarter. Finally, World Investment Advisors raised its position in shares of Lowe’s Companies by 11.0% in the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock worth $6,498,000 after acquiring an additional 2,615 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on LOW. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 15th. Truist Financial decreased their target price on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Bank of America cut their price target on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho dropped their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson restated a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $278.74.

Lowe’s Companies Price Performance

Shares of LOW opened at $219.01 on Monday. The firm has a 50-day simple moving average of $232.59 and a two-hundred day simple moving average of $252.50. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock has a market cap of $122.58 billion, a PE ratio of 18.27, a P/E/G ratio of 1.96 and a beta of 1.07.

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

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.10%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

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.