Evolution Advisers Inc. Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Evolution Advisers Inc. purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 413 shares of the home improvement retailer’s stock, valued at approximately $90,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Trust & Investment Management Co acquired a new stake in Lowe’s Companies during the 4th quarter worth about $5,890,000. Biondo Investment Advisors LLC lifted its holdings in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after buying an additional 620 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after buying an additional 584 shares during the period. Legacy CG LLC lifted its holdings in shares of Lowe’s Companies by 25.0% in the 4th quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock valued at $5,107,000 after buying an additional 4,583 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several analyst reports. Gordon Haskett reissued a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 3rd. UBS Group boosted their price objective on Lowe’s Companies from $250.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. DA Davidson reissued a “neutral” rating and issued a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Piper Sandler boosted their price objective on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Price Performance

LOW traded down $0.33 during trading hours on Thursday, reaching $229.96. The company’s stock had a trading volume of 1,984,976 shares, compared to its average volume of 2,513,587. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock has a market cap of $131.58 billion, a PE ratio of 17.47, a P/E/G ratio of 1.73 and a beta of 1.13. The business’s 50-day moving average is $239.92 and its 200-day moving average is $219.50.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.