Benjamin Edwards Inc. Sells 1,039 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Benjamin Edwards Inc. decreased its stake in Lowe's Companies by 1.5%, now owning 67,376 shares worth approximately $15.7 million.
• Lowe's Companies recently declared a quarterly dividend of $1.20 per share, increasing from the previous $1.15, resulting in an annualized yield of 2.0%.
• The company reported earnings of $2.92 per share for its latest quarter, exceeding analyst expectations, despite a 2% decline in revenue year-over-year.

Benjamin Edwards Inc. reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,376 shares of the home improvement retailer's stock after selling 1,039 shares during the period. Benjamin Edwards Inc.'s holdings in Lowe's Companies were worth $15,714,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LOW. Brighton Jones LLC lifted its holdings in Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after acquiring an additional 259 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Lowe's Companies by 2,962.5% during the 4th quarter. Renaissance Technologies LLC now owns 98,000 shares of the home improvement retailer's stock worth $24,186,000 after acquiring an additional 94,800 shares in the last quarter. F M Investments LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $201,000. Finally, Phoenix Financial Ltd. raised its holdings in shares of Lowe's Companies by 16.3% during the 4th quarter. Phoenix Financial Ltd. now owns 1,797 shares of the home improvement retailer's stock worth $444,000 after acquiring an additional 252 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

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 directly 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 document filed with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Lowe's Companies Trading Down 0.5%

Shares of LOW traded down $1.11 during trading hours on Monday, reaching $240.04. 2,602,458 shares of the company traded hands, compared to its average volume of 2,697,837. The firm has a market cap of $134.53 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The stock's fifty day moving average price is $224.68 and its 200 day moving average price is $230.41.

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. The firm 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 business's revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 earnings per share. On average, research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders 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 2.0%. The ex-dividend date was Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LOW shares. Guggenheim reaffirmed a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. Morgan Stanley decreased their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $270.68.

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.