Aptus Capital Advisors LLC Acquires 13,005 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Aptus Capital Advisors LLC increased its stake in Lowe's Companies, Inc. by 12.2%, acquiring an additional 13,005 shares, resulting in total holdings worth $27.8 million.
• Several institutional investors have recently changed their stakes in Lowe's, with a noted 74.06% of the company's stock now owned by institutional investors.
• Lowe's declared a quarterly dividend of $1.20 per share, increasing from the previous $1.15, resulting in an annual yield of 1.9%.

Aptus Capital Advisors LLC boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,310 shares of the home improvement retailer's stock after acquiring an additional 13,005 shares during the quarter. Aptus Capital Advisors LLC's holdings in Lowe's Companies were worth $27,827,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new stake in Lowe's Companies during the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Lowe's Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC bought a new stake in Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies during the first quarter valued at $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares during the period. Institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LOW. Wells Fargo & Company cut their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Robert W. Baird cut their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Mizuho reaffirmed an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research note on Friday, June 13th. DA Davidson cut their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. cut their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. One 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $270.68.

Lowe's Companies Stock Performance

NYSE:LOW opened at $251.86 on Monday. The company has a market cap of $141.15 billion, a PE ratio of 20.87, a PEG ratio of 2.38 and a beta of 0.89. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a 50-day simple moving average of $226.61 and a 200 day simple moving average of $230.05.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates 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 firm 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 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. On average, research 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company 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.

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