Burney Co. Raises Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Burney Co. grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 97.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,887 shares of the home improvement retailer's stock after acquiring an additional 42,348 shares during the quarter. Burney Co.'s holdings in Lowe's Companies were worth $20,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Lowe's Companies by 1.1% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 55,488 shares of the home improvement retailer's stock worth $12,941,000 after acquiring an additional 594 shares in the last quarter. Roundview Capital LLC boosted its holdings in shares of Lowe's Companies by 1.1% during the first quarter. Roundview Capital LLC now owns 10,421 shares of the home improvement retailer's stock worth $2,430,000 after purchasing an additional 109 shares during the last quarter. Forbes J M & Co. LLP purchased a new position in shares of Lowe's Companies in the 1st quarter worth $47,000. M. Kulyk & Associates LLC raised its position in shares of Lowe's Companies by 9.9% in the 1st quarter. M. Kulyk & Associates LLC now owns 2,656 shares of the home improvement retailer's stock worth $619,000 after buying an additional 240 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in Lowe's Companies by 0.9% in the first quarter. KLP Kapitalforvaltning AS now owns 194,103 shares of the home improvement retailer's stock valued at $45,271,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of LOW traded up $1.27 during trading hours on Friday, hitting $226.83. The company's stock had a trading volume of 2,053,515 shares, compared to its average volume of 2,516,350. The company 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 business has a 50 day simple moving average of $223.04 and a two-hundred day simple moving average of $232.46. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The business 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%. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.06 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. DA Davidson lowered their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Citigroup reissued a "neutral" rating and set a $253.00 target price (down previously from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Guggenheim reaffirmed a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a research report on Tuesday. Finally, Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. 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's stock. According to MarketBeat.com, Lowe's Companies presently has an average 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.