Alpine Bank Wealth Management Makes New Investment in Lowe's Companies, Inc. (NYSE:LOW)

Alpine Bank Wealth Management bought a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,794 shares of the home improvement retailer's stock, valued at approximately $2,984,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $25,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies during the 1st quarter worth approximately $36,000. Finally, IFS Advisors LLC lifted its position in shares of Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling

In other Lowe's Companies 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 value of $257,075.00. Following the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on LOW shares. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Piper Sandler reduced their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company reduced their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Citigroup reiterated a "neutral" rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Finally, Sanford C. Bernstein set a $266.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Trading Up 1.1%

Shares of NYSE:LOW traded up $2.43 on Friday, reaching $223.66. 3,227,400 shares of the company were exchanged, compared to its average volume of 2,530,682. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The firm has a market cap of $125.35 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The company has a 50-day moving average of $223.18 and a 200-day moving average of $236.26.

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 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 analyst estimates of $21.09 billion. During the same period in the previous year, the firm earned $3.06 EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors 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 2.15%. Lowe's Companies's payout ratio is currently 38.11%.

Lowe's Companies Company 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.