3Chopt Investment Partners LLC Buys New Stake in Lowe's Companies, Inc. (NYSE:LOW)

3Chopt Investment Partners LLC bought a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,884 shares of the home improvement retailer's stock, valued at approximately $673,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Lowe's Companies by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,084 shares of the home improvement retailer's stock valued at $16,009,000 after buying an additional 9,617 shares in the last quarter. Achmea Investment Management B.V. lifted its stake in shares of Lowe's Companies by 5.8% during the 1st quarter. Achmea Investment Management B.V. now owns 98,530 shares of the home improvement retailer's stock worth $22,980,000 after purchasing an additional 5,391 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in shares of Lowe's Companies by 8.1% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,740 shares of the home improvement retailer's stock worth $639,000 after purchasing an additional 205 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Lowe's Companies by 9.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 85,855 shares of the home improvement retailer's stock worth $20,024,000 after purchasing an additional 7,605 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in shares of Lowe's Companies by 2.4% during the 1st quarter. Transcend Capital Advisors LLC now owns 7,020 shares of the home improvement retailer's stock worth $1,637,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 1.1%

Shares of NYSE LOW opened at $223.66 on Friday. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The company has a market cap of $125.35 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.09 and a beta of 0.92. The stock has a fifty day moving average price of $223.18 and a 200 day moving average price of $236.26.

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

Lowe's Companies Increases Dividend

The business also recently declared 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 a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.15%. Lowe's Companies's dividend payout ratio (DPR) is presently 38.11%.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOW. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research note on Friday, April 25th. Mizuho reissued an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research note on Friday, June 13th. DA Davidson reduced their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. Finally, Robert W. Baird reduced their price target on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $271.12.

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.

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