New Jersey Better Educational Savings Trust Makes New $211,000 Investment in Lowe’s Companies, Inc. (NYSE:LOW)

New Jersey Better Educational Savings Trust purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the 4th quarter, HoldingsChannel reports. The firm purchased 950 shares of the home improvement retailer’s stock, valued at approximately $211,000.

Several other institutional investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co bought a new position in Lowe’s Companies in the 4th quarter valued at $5,890,000. Biondo Investment Advisors LLC raised its position in 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 purchasing an additional 620 shares during the last quarter. Perigon Wealth Management LLC raised its position in 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 purchasing an additional 584 shares during the last quarter. Legacy CG LLC raised its position in 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 purchasing an additional 4,583 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Lowe’s Companies in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.1 %

Shares of LOW stock 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. The firm’s 50 day simple moving average is $239.88 and its 200-day simple moving average is $219.43. The company has a market capitalization of $131.58 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.73 and a beta of 1.13. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion for 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 was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research analyst reports. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Mizuho began coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. Truist Financial boosted their target price on Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wedbush boosted their target price on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company boosted their target price on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $252.52.

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.