Zurcher Kantonalbank Zurich Cantonalbank Has $90.31 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405,789 shares of the home improvement retailer’s stock after selling 211,645 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lowe’s Companies were worth $90,308,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LOW. Norges Bank bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $1,461,267,000. Moneta Group Investment Advisors LLC boosted its holdings in Lowe’s Companies by 107,710.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after acquiring an additional 5,075,327 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Lowe’s Companies by 187,225.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after acquiring an additional 2,110,032 shares during the last quarter. Morgan Stanley boosted its holdings in Lowe’s Companies by 21.3% in the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after acquiring an additional 2,050,089 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $430,090,000. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on LOW shares. Royal Bank of Canada upped their target price on Lowe’s Companies from $190.00 to $246.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Zelman & Associates restated a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price target on Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Truist Financial increased their target price on Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Wedbush increased their target price on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $252.52.

Lowe’s Companies Trading Down 0.7 %

Shares of LOW traded down $1.66 during trading hours on Tuesday, reaching $228.35. 2,198,248 shares of the company’s stock traded hands, compared to its average volume of 2,567,834. The stock has a market cap of $130.66 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The firm’s 50 day simple moving average is $238.95 and its 200-day simple moving average is $218.17. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

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

Lowe’s Companies Dividend Announcement

The company 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 dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.93%. Lowe’s Companies’s dividend 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.