Corebridge Financial Inc. Has $36.78 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Corebridge Financial Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,027 shares of the home improvement retailer’s stock after selling 9,691 shares during the quarter. Corebridge Financial Inc.’s holdings in Lowe’s Companies were worth $36,780,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Lowe’s Companies in the 4th quarter worth approximately $314,435,000. Strategic Financial Concepts LLC boosted its position in Lowe’s Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the period. Amundi grew its holdings in Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after purchasing an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Lowe’s Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock valued at $208,843,000 after purchasing an additional 844,217 shares during the period. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada lowered their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Sanford C. Bernstein boosted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Finally, StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $280.83.

Lowe’s Companies Trading Up 0.4 %

NYSE LOW opened at $227.09 on Monday. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The company has a market capitalization of $128.23 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12. The stock’s 50 day moving average is $247.99 and its two-hundred day moving average is $257.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. On average, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.03%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

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.