Azzad Asset Management Inc. ADV Buys Shares of 20,331 Lowe's Companies, Inc. (NYSE:LOW)

Azzad Asset Management Inc. ADV bought a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,331 shares of the home improvement retailer's stock, valued at approximately $4,742,000.

Several other institutional investors have also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the 4th quarter valued at approximately $25,000. Marshall Investment Management LLC acquired a new position in Lowe's Companies in the 4th quarter valued at $31,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies during the 4th quarter worth $33,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies during the 4th quarter worth $36,000. Finally, IFS Advisors LLC boosted its position in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho reaffirmed an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research report on Friday. Piper Sandler reduced their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Robert W. Baird dropped their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Down 2.9%

NYSE:LOW traded down $6.51 on Friday, reaching $216.99. The stock had a trading volume of 2,425,924 shares, compared to its average volume of 2,526,279. The company has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock has a fifty day moving average price of $223.77 and a 200-day moving average price of $239.88.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. Lowe's Companies's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.21%. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

About Lowe's Companies

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.