Distillate Capital Partners LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Distillate Capital Partners LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 115,794 shares of the home improvement retailer’s stock, valued at approximately $28,578,000. Lowe’s Companies accounts for about 1.4% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 13th largest position.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC grew its position in shares of Lowe’s Companies by 1.0% during the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock worth $6,483,558,000 after buying an additional 259,766 shares during the period. Geode Capital Management LLC boosted its stake in Lowe’s Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock worth $2,952,341,000 after acquiring an additional 245,876 shares in the last quarter. Norges Bank acquired a new stake in Lowe’s Companies in the fourth quarter worth $1,842,954,000. Bank of New York Mellon Corp increased its stake in Lowe’s Companies by 10.2% in the fourth 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 purchasing an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lowe’s Companies by 2.7% in the fourth 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 purchasing an additional 90,012 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $220.11 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The business has a 50-day moving average of $236.25 and a 200 day moving average of $254.37. The firm has a market cap of $123.20 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate 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, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.09%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

LOW has been the subject of several research reports. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Mizuho decreased their price objective 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. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Piper Sandler decreased their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.74.

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.