Bridges Investment Management Inc. Lowers Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Bridges Investment Management Inc. lowered its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,541 shares of the home improvement retailer's stock after selling 1,972 shares during the quarter. Lowe's Companies makes up 1.2% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 22nd largest position. Bridges Investment Management Inc. owned about 0.07% of Lowe's Companies worth $86,421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies during the first quarter valued at $32,000. Caisse Des Depots ET Consignations purchased a new position in Lowe's Companies during the fourth quarter valued at $33,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the first quarter valued at $36,000. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 2.0%

Shares of NYSE:LOW traded up $4.44 on Thursday, reaching $230.01. The company had a trading volume of 1,087,623 shares, compared to its average volume of 2,494,062. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The firm's 50 day simple moving average is $224.10 and its 200-day simple moving average is $234.56. The firm has a market capitalization of $128.91 billion, a PE ratio of 19.06, a PEG ratio of 2.11 and a beta of 0.90.

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 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 analysts' expectations of $21.09 billion. During the same quarter last year, the firm earned $3.06 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts predict 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 will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. 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 yield of 2.09%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is 38.11%.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred 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. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Citigroup restated a "neutral" rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

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.