Allium Financial Advisors LLC Makes New $294,000 Investment in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Allium Financial Advisors LLC acquired 1,262 shares of Lowe's Companies, Inc. for approximately $294,000 in the first quarter, reflecting ongoing interest from institutional investors.
• Lowe's Companies recently announced an increase in its quarterly dividend to $1.20 per share, with a yield of 2.12%, indicating strong financial management amid fluctuating stock performance.
• Citigroup downgraded its target price for Lowe's shares from $269.00 to $253.00, reflecting a cautious outlook among analysts, as the company navigates a moderate buy consensus with a current average target price of $271.12.

Allium Financial Advisors LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,262 shares of the home improvement retailer's stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in Lowe's Companies by 1.2% in the 1st 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 buying an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC increased its position 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 buying an additional 13,092 shares during the period. World Investment Advisors increased its position in shares of Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Larson Financial Group LLC boosted its stake in Lowe's Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after buying an additional 1,242 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Lowe's Companies by 16.3% in the fourth 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 last quarter. Institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and set a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Finally, 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. One equities research 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Trading Down 0.1%

Shares of NYSE LOW traded down $0.12 during mid-day trading on Wednesday, reaching $229.92. The company had a trading volume of 707,697 shares, compared to its average volume of 2,635,215. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The business's 50-day moving average is $222.93 and its 200-day moving average is $232.12. The stock has a market cap of $128.86 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter last year, the company earned $3.06 EPS. The business's revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 39.77%.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

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.