Avalon Trust Co Cuts Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Avalon Trust Co has decreased its stake in Lowe's Companies, Inc. by 1.5%, now holding 129,321 shares valued at approximately $30.16 million.
• Lowe's reported earnings per share of $2.92 for the quarter, exceeding analysts' expectations, but experienced a 2.0% drop in revenue year-over-year.
• The company announced an increase in its quarterly dividend to $1.20 per share, resulting in a 2.1% dividend yield for investors.

Avalon Trust Co decreased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 129,321 shares of the home improvement retailer's stock after selling 1,961 shares during the period. Lowe's Companies comprises 2.4% of Avalon Trust Co's portfolio, making the stock its 10th biggest position. Avalon Trust Co's holdings in Lowe's Companies were worth $30,162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies during the 1st quarter worth approximately $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth approximately $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies during the 1st quarter worth approximately $36,000. Finally, IFS Advisors LLC increased its holdings 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 acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE:LOW opened at $226.33 on Friday. The stock has a fifty day moving average price of $223.03 and a 200-day moving average price of $231.57. The company has a market cap of $126.84 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its 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. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.06 EPS. Research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal 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 dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insider Buying and Selling at Lowe's Companies

In related 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 transaction of $257,075.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Guggenheim reissued a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a report on Tuesday, July 22nd. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a report on Friday, April 25th. Citigroup decreased their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Mizuho reissued an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus target price of $270.68.

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.

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