Acima Private Wealth LLC Cuts Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Acima Private Wealth LLC has reduced its stake in Lowe's Companies by 22.5%, decreasing its holdings to 6,905 shares valued at approximately $1.61 million.
• Lowe's Companies announced a quarterly dividend increase from $1.15 to $1.20 per share, reflecting an annualized dividend of $4.80 and a yield of 2.1%.
• Analysts have mixed ratings for Lowe's stock, with one sell rating, nine hold ratings, and seventeen buy ratings, resulting in a consensus rating of "Moderate Buy" and an average price target of $270.68.

Acima Private Wealth LLC decreased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,905 shares of the home improvement retailer's stock after selling 2,000 shares during the period. Acima Private Wealth LLC's holdings in Lowe's Companies were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LOW. Northern Trust Corp lifted its holdings in shares of Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lowe's Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after buying an additional 323,371 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Lowe's Companies by 350.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after buying an additional 1,846,315 shares during the last quarter. Pacer Advisors Inc. raised its stake in Lowe's Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after buying an additional 1,971,996 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Lowe's Companies by 33.5% in the fourth quarter. Deutsche Bank AG now owns 1,815,301 shares of the home improvement retailer's stock worth $448,016,000 after acquiring an additional 455,309 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's 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 completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LOW shares. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective on the stock in a report on Friday, April 25th. Citigroup dropped their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Stifel Nicolaus decreased their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research report 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $270.68.

Lowe's Companies Trading Up 3.4%

Shares of LOW opened at $233.99 on Tuesday. The firm has a market cap of $131.14 billion, a P/E ratio of 19.39, a PEG ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The stock's 50 day moving average is $223.29 and its two-hundred day moving average is $231.19.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 EPS. Equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

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

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.

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