MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 396 shares of the home improvement retailer’s stock, valued at approximately $101,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Lowe’s Companies in the 4th quarter valued at $1,638,746,000. International Assets Investment Management LLC bought a new position in Lowe’s Companies in the fourth quarter valued at about $430,090,000. Schroder Investment Management Group raised its stake in Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock worth $581,592,000 after acquiring an additional 1,831,727 shares in the last quarter. Canoe Financial LP bought a new position in shares of Lowe’s Companies in the fourth quarter worth about $206,912,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $126,615,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.1 %

Shares of LOW stock opened at $213.75 on Wednesday. The firm has a market cap of $121.80 billion, a P/E ratio of 17.17, a PEG ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company has a 50 day moving average of $224.97 and a 200-day moving average of $228.40.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 EPS. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. Lowe’s Companies’s dividend payout ratio is 35.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Truist Financial dropped their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Evercore ISI reduced their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $250.41.

Lowe’s Companies 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.