Allspring Global Investments Holdings LLC Has $7.14 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Allspring Global Investments Holdings LLC decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 20.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 32,070 shares of the home improvement retailer’s stock after selling 8,212 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lowe’s Companies were worth $7,137,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Garrison Bradford & Associates Inc. grew its holdings in Lowe’s Companies by 2.5% during the fourth quarter. Garrison Bradford & Associates Inc. now owns 10,365 shares of the home improvement retailer’s stock worth $2,307,000 after buying an additional 250 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Lowe’s Companies by 7.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 4,165 shares of the home improvement retailer’s stock worth $927,000 after acquiring an additional 278 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth $24,091,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Lowe’s Companies by 1.2% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,574 shares of the home improvement retailer’s stock valued at $2,576,000 after purchasing an additional 137 shares during the last quarter. Finally, Financial & Tax Architects LLC lifted its position in shares of Lowe’s Companies by 1.1% during the fourth quarter. Financial & Tax Architects LLC now owns 25,791 shares of the home improvement retailer’s stock valued at $5,740,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $228.86 on Thursday. The firm has a market capitalization of $130.95 billion, a P/E ratio of 17.39, a PEG ratio of 1.70 and a beta of 1.13. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The business has a fifty day moving average price of $239.29 and a 200-day moving average price of $218.38.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping the consensus estimate of $1.68 by $0.09. The business 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 firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.28 EPS. Sell-side 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 paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.92%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOW. The Goldman Sachs Group increased their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Wells Fargo & Company boosted their price objective 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. Robert W. Baird raised Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, February 14th. Finally, DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.