Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by Advent Capital Management DE

Key Points

• Advent Capital Management DE acquired an additional 3,000 shares of Lowe's Companies, Inc., raising its holdings by 20% and bringing the total to 18,000 shares valued at approximately $4.2 million.
• Lowe's reported earnings of $2.92 per share for the last quarter, surpassing analysts' expectations but also experiencing a 2% year-over-year revenue decline.
• The company announced an increase in its quarterly dividend from $1.15 to $1.20 per share, equating to an annual yield of 2.0%.

Advent Capital Management DE boosted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the home improvement retailer's stock after buying an additional 3,000 shares during the period. Advent Capital Management DE's holdings in Lowe's Companies were worth $4,198,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Lowe's Companies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after purchasing an additional 230,359 shares during the period. Northern Trust Corp raised its holdings in shares of Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares during the period. Invesco Ltd. raised its holdings in shares of Lowe's Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Lowe's Companies by 6.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lowe's Companies by 6.9% in 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 worth $1,242,793,000 after purchasing an additional 323,371 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research reports. Guggenheim restated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Morgan Stanley dropped their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird dropped their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Stock Down 0.5%

Shares of LOW traded down $1.11 during mid-day trading on Monday, hitting $240.04. The stock had a trading volume of 2,602,458 shares, compared to its average volume of 2,697,837. The company has a market cap of $134.53 billion, a PE ratio of 19.89, a PEG ratio of 2.28 and a beta of 0.89. The company's fifty day simple moving average is $224.68 and its two-hundred day simple moving average is $230.41. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. Equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is presently 39.77%.

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.