NEOS Investment Management LLC Grows Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

NEOS Investment Management LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 32.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,626 shares of the home improvement retailer’s stock after buying an additional 8,185 shares during the quarter. NEOS Investment Management LLC’s holdings in Lowe’s Companies were worth $8,299,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC boosted its stake in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp grew its holdings in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after buying an additional 385,994 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Lowe’s Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after buying an additional 90,012 shares in the last quarter. Finally, Amundi raised its position in shares of Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

LOW stock opened at $231.91 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The firm’s 50-day moving average is $246.76 and its 200 day moving average is $257.53. The company has a market capitalization of $130.95 billion, a PE ratio of 19.34, a P/E/G ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Royal Bank of Canada cut their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler reduced their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial decreased their target price on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Mizuho cut their price target 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.71.

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.