First Citizens Bank & Trust Co. Has $5.69 Million Stock Holdings in Lowe’s Companies, Inc. $LOW

First Citizens Bank & Trust Co. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 45.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,657 shares of the home improvement retailer’s stock after selling 19,206 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lowe’s Companies were worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Lowe’s Companies during the 2nd quarter worth $1,773,624,000. Tableaux LLC bought a new position in shares of Lowe’s Companies in the second quarter worth about $282,884,000. Laurel Wealth Advisors LLC lifted its position in shares of Lowe’s Companies by 22,167.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after purchasing an additional 1,027,683 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Lowe’s Companies by 243.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after purchasing an additional 791,526 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Lowe’s Companies by 101.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock valued at $312,866,000 after purchasing an additional 626,829 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $276.46 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The firm has a market capitalization of $155.08 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 4.59 and a beta of 0.96. The company’s fifty day moving average price is $249.28 and its two-hundred day moving average price is $246.21.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 EPS. 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, February 4th. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target on the stock in a research report on Wednesday, January 7th. Truist Financial set a $295.00 target price on shares of Lowe’s Companies in a research report on Friday, January 16th. Gordon Haskett upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Tuesday, January 13th. HSBC decreased their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Finally, Wolfe Research dropped their price objective on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $283.65.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.