1,378 Shares in Lowe's Companies, Inc. (NYSE:LOW) Acquired by Hoxton Planning & Management LLC

Key Points

• Hoxton Planning & Management LLC purchased 1,378 shares of Lowe's Companies, Inc., valued at approximately $321,000, during the first quarter.
• The company announced a quarterly dividend increase to $1.20 per share, up from $1.15, representing an annual yield of 2.1%.
• Lowe's reported earnings per share of $2.92 for the last quarter, exceeding analysts' expectations of $2.88, although revenue was down 2.0% compared to the same quarter last year.

Hoxton Planning & Management LLC acquired a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,378 shares of the home improvement retailer's stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LOW. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies during the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies during the first quarter valued at $32,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the fourth quarter valued at $36,000. Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the first quarter valued at $36,000. Finally, IFS Advisors LLC grew its stake in Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Up 1.2%

LOW traded up $2.76 on Friday, reaching $226.33. 3,400,746 shares of the company traded hands, compared to its average volume of 2,422,152. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The company has a market cap of $126.84 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. The firm has a fifty day simple moving average of $223.03 and a two-hundred day simple moving average of $231.57.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 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 business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the business posted $3.06 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Royal Bank Of Canada cut their target price on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. Robert W. Baird dropped their price objective on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, May 21st. Finally, Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business'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 completion of the sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

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.