Capital Investment Advisory Services LLC Increases Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Capital Investment Advisory Services LLC raised its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 13.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,520 shares of the home improvement retailer's stock after purchasing an additional 3,243 shares during the period. Capital Investment Advisory Services LLC's holdings in Lowe's Companies were worth $6,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $1,842,954,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Lowe's Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after buying an additional 1,846,315 shares during the period. GAMMA Investing LLC lifted its stake in shares of Lowe's Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock valued at $386,540,000 after buying an additional 1,651,170 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $314,435,000. Finally, Northern Trust Corp lifted its stake in shares of Lowe's Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of several research analyst reports. Robert W. Baird dropped their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Royal Bank Of Canada dropped their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Mizuho reissued an "outperform" rating and issued a $280.00 price objective on shares of Lowe's Companies in a research report on Friday, June 13th. Finally, Wells Fargo & Company lowered their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Up 0.5%

Shares of NYSE:LOW opened at $228.00 on Friday. The company has a market cap of $127.78 billion, a PE ratio of 18.89, a P/E/G ratio of 2.16 and a beta of 0.90. The company's 50-day moving average price is $223.98 and its 200 day moving average price is $235.03. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm earned $3.06 EPS. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's payout ratio is 38.11%.

Insider Activity at Lowe's Companies

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.