Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Allworth Financial LP

Allworth Financial LP lifted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,057 shares of the home improvement retailer's stock after acquiring an additional 1,349 shares during the quarter. Allworth Financial LP's holdings in Lowe's Companies were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new position in Lowe's Companies in the fourth quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Lowe's Companies in the first quarter valued at $32,000. Caisse Des Depots ET Consignations acquired a new position in Lowe's Companies in the fourth quarter valued at $33,000. Orion Capital Management LLC acquired a new position in Lowe's Companies in the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Lowe's Companies in the first quarter valued at $36,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

LOW has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company decreased their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. DA Davidson decreased their target price on shares of 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. Finally, Mizuho reiterated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at $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 available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Price Performance

Lowe's Companies stock traded down $3.79 during mid-day trading on Friday, reaching $224.12. The company had a trading volume of 1,840,145 shares, compared to its average volume of 2,496,417. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The company has a market capitalization of $125.61 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.15 and a beta of 0.90. The stock's 50-day simple moving average is $224.14 and its 200-day simple moving average is $234.24.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same period last year, the company posted $3.06 earnings per share. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.14%. Lowe's Companies's dividend payout ratio is currently 38.11%.

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.