Absher Wealth Management LLC Sells 7,131 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Absher Wealth Management LLC cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 41.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,054 shares of the home improvement retailer's stock after selling 7,131 shares during the period. Absher Wealth Management LLC's holdings in Lowe's Companies were worth $2,345,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies in the fourth quarter valued at approximately $25,000. Marshall Investment Management LLC purchased a new position in Lowe's Companies in the fourth quarter valued at approximately $31,000. Caisse Des Depots ET Consignations purchased a new position in Lowe's Companies in the fourth quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new position in Lowe's Companies in the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Lowe's Companies in the first quarter valued at approximately $36,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective 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. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Piper Sandler dropped their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Royal Bank Of Canada dropped their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Trading Up 2.8%

LOW stock traded up $5.89 during trading on Monday, hitting $218.64. The company had a trading volume of 2,635,486 shares, compared to its average volume of 2,541,963. The firm has a market capitalization of $122.53 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.01 and a beta of 0.92. The business has a 50 day moving average of $223.03 and a 200 day moving average of $237.56. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

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, topping 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 the consensus estimate of $21.09 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The company's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.20%. 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 payout ratio is presently 38.11%.

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.