AE Wealth Management LLC Acquires 1,417 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• AE Wealth Management LLC increased its holdings in Lowe's Companies by 10.2%, acquiring an additional 1,417 shares, bringing its total to 15,364 shares valued at approximately $3.58 million.
• Lowe's has recently increased its quarterly dividend to $1.20 per share, up from the previous $1.15, indicating a commitment to returning value to shareholders.
• Despite a slight decline in revenue year-over-year, Lowe's reported an Earnings Per Share (EPS) of $2.92 for the last quarter, surpassing estimates by $0.04.

AE Wealth Management LLC raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,364 shares of the home improvement retailer's stock after acquiring an additional 1,417 shares during the period. AE Wealth Management LLC's holdings in Lowe's Companies were worth $3,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in shares of Lowe's Companies by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after purchasing an additional 1,470 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Lowe's Companies by 14.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after purchasing an additional 13,092 shares during the period. World Investment Advisors boosted its stake in shares of Lowe's Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after purchasing an additional 2,615 shares during the period. Larson Financial Group LLC boosted its stake in shares of Lowe's Companies by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after purchasing an additional 1,242 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Lowe's Companies by 16.3% during the fourth 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 period. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

Lowe's Companies Stock Performance

NYSE LOW opened at $226.83 on Friday. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The stock has a 50-day moving average of $223.04 and a 200 day moving average of $232.46. The company has a market capitalization of $127.12 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.13 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the company earned $3.06 EPS. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

Analyst Ratings Changes

A number of brokerages recently commented on LOW. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. DA Davidson dropped their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley dropped their price target on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $271.12.

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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