Carnegie Investment Counsel Acquires 4,303 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Carnegie Investment Counsel boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,559 shares of the home improvement retailer's stock after acquiring an additional 4,303 shares during the quarter. Carnegie Investment Counsel's holdings in Lowe's Companies were worth $34,508,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LOW. Brighton Jones LLC boosted its stake in shares of Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after purchasing an additional 259 shares in the last quarter. Modern Wealth Management LLC grew its holdings in Lowe's Companies by 80.8% in the fourth quarter. Modern Wealth Management LLC now owns 2,739 shares of the home improvement retailer's stock valued at $702,000 after purchasing an additional 1,224 shares during the period. Ashton Thomas Securities LLC increased its position in shares of Lowe's Companies by 11.3% in the fourth quarter. Ashton Thomas Securities LLC now owns 916 shares of the home improvement retailer's stock valued at $229,000 after buying an additional 93 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Lowe's Companies by 4.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 279,632 shares of the home improvement retailer's stock valued at $69,013,000 after buying an additional 11,177 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the subject of several research analyst reports. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research report on Friday, April 25th. 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. Morgan Stanley lowered their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on shares of 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, Stifel Nicolaus cut their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Trading Up 0.6%

Shares of LOW traded up $1.27 during midday trading on Friday, hitting $226.83. The stock had a trading volume of 2,053,515 shares, compared to its average volume of 2,516,350. The firm has a market cap of $127.12 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. 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 (NYSE:LOW - Get Free Report) last released 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 company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 earnings per share. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. 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%. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

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.