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2,493 Shares in Lowe's Companies, Inc. (NYSE:LOW) Purchased by Zions Bancorporation National Association UT

Lowe's Companies logo with Retail/Wholesale background

Key Points

  • Zions Bancorporation National Association UT purchased 2,493 shares of Lowe's Companies, Inc., valued at approximately $581,000, indicating increased institutional interest in the company.
  • Lowe's Companies announced a quarterly dividend increase to $1.20 per share, reflecting a positive change from the previous dividend of $1.15, representing a 2.0% dividend yield.
  • The company reported $2.92 EPS for the quarter, surpassing the consensus estimate of $2.88, though revenue fell 2% year-over-year to $20.93 billion.
  • Looking to Export and Analyze Lowe's Companies Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Zions Bancorporation National Association UT purchased a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,493 shares of the home improvement retailer's stock, valued at approximately $581,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wood Tarver Financial Group LLC acquired a new stake in Lowe's Companies during the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in Lowe's Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC acquired a new stake in Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new stake in Lowe's Companies during the 1st quarter worth about $36,000. Finally, IFS Advisors LLC raised its holdings 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 buying an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Stock Up 1.2%

Shares of LOW stock opened at $241.37 on Friday. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The business's 50 day moving average is $224.39 and its two-hundred day moving average is $230.78. The company has a market cap of $135.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89.

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 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the company posted $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Analysts Set New Price Targets

Several analysts have issued reports on LOW shares. Guggenheim restated a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Mizuho reiterated an "outperform" rating and issued a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. Wells Fargo & Company dropped their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and an average target price of $270.68.

Check Out Our Latest Research Report on Lowe's Companies

Lowe's Companies Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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