Avantax Advisory Services Inc. Has $10.74 Million Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Avantax Advisory Services Inc. increased its position in Lowe's Companies, Inc. by 5.2%, owning around $10.74 million worth of shares at the end of the first quarter.
• Lowe's reported earnings of $2.92 per share for the recent quarter, exceeding analyst expectations but showing a 2.0% decline in revenue year-over-year.
• The company announced a quarterly dividend increase to $1.20 per share, reflecting a yield of 2.12%, effective for shareholders recorded by July 23rd.

Avantax Advisory Services Inc. raised its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,033 shares of the home improvement retailer's stock after buying an additional 2,266 shares during the period. Avantax Advisory Services Inc.'s holdings in Lowe's Companies were worth $10,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $25,000. Fairway Wealth LLC bought a new position in Lowe's Companies in the 1st quarter worth $32,000. Caisse Des Depots ET Consignations acquired a new position in Lowe's Companies during the 4th quarter worth $33,000. Orion Capital Management LLC acquired a new position in Lowe's Companies during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Lowe's Companies during the first quarter valued at about $36,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Performance

LOW opened at $226.83 on Friday. The firm has a market cap of $127.12 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.13 and a beta of 0.90. The firm's 50-day simple moving average is $223.04 and its 200-day simple moving average is $232.46. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.12%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 39.77%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LOW shares. Wells Fargo & Company dropped their price objective 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. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Wednesday, May 21st. Stifel Nicolaus lowered their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. 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 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. According to data from MarketBeat, Lowe's Companies currently 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 firm'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 completion of the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.27% of the company's stock.

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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