Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its stake in Lowe's Companies, Inc. by 4.2%, now holding 42,470 shares valued at approximately $9.9 million.
• Lowe's reported earnings per share of $2.92 for the latest quarter, exceeding estimates and indicating a revenue decline of 2.0% year-over-year.
• The company has announced an increase in its quarterly dividend to $1.20 per share, reflecting a dividend yield of 2.1% based on the new amount.

Cary Street Partners Financial LLC lifted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,470 shares of the home improvement retailer's stock after acquiring an additional 1,712 shares during the period. Cary Street Partners Financial LLC's holdings in Lowe's Companies were worth $9,905,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Lowe's Companies in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies during the 1st quarter worth $32,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the 4th quarter worth $36,000. Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the 1st quarter worth $36,000. Finally, IFS Advisors LLC grew its stake in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LOW has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Morgan Stanley dropped their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research note on Tuesday, July 22nd. One investment 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. According to MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average target price of $270.68.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Lowe's Companies Stock Up 1.2%

Shares of LOW traded up $2.81 during mid-day trading on Friday, reaching $241.37. The company had a trading volume of 2,746,101 shares, compared to its average volume of 2,652,532. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a market capitalization of $135.27 billion, a P/E ratio of 20.00, a PEG ratio of 2.25 and a beta of 0.89. The stock has a 50 day moving average of $224.39 and a two-hundred day moving average of $230.97.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its 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. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate 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 was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.06 earnings per share. On average, sell-side analysts expect 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 announced 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. The ex-dividend date of this dividend was Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's payout ratio is currently 39.77%.

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.