Financial Gravity Asset Management Inc. Acquires New Position in Lowe's Companies, Inc. (NYSE:LOW)

Financial Gravity Asset Management Inc. purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,301 shares of the home improvement retailer's stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Lowe's Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock worth $29,223,000 after acquiring an additional 1,470 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Lowe's Companies by 14.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after buying an additional 13,092 shares during the last quarter. World Investment Advisors raised its holdings in shares of Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after buying an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Lowe's Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after buying an additional 7,187 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

LOW traded up $2.39 on Thursday, hitting $227.96. 2,417,072 shares of the company were exchanged, compared to its average volume of 2,501,086. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The firm has a market capitalization of $127.76 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. The business's fifty day moving average is $224.10 and its 200 day moving average is $234.56.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is 38.11%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, May 21st. Robert W. Baird reduced their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Stifel Nicolaus reduced their target price on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Piper Sandler reduced their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Activity

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Lowe's Companies Company 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.