23,289 Shares in Lowe's Companies, Inc. (NYSE:LOW) Purchased by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC has acquired a new stake in Lowe's Companies, purchasing 23,289 shares valued at around $5.32 million.
• Wall Street analysts maintain a generally positive outlook on Lowe's, with a consensus target price of $270.68 and various ratings indicating the stock as a "Moderate Buy."
• Lowe's recently declared a quarterly dividend of $1.20 per share, representing an annualized yield of 2.0%, which is an increase from the previous dividend of $1.15.

CCM Investment Group LLC bought a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,289 shares of the home improvement retailer's stock, valued at approximately $5,320,000.

A number of other large investors have also recently bought and sold shares of LOW. Vanguard Group Inc. boosted its holdings in shares of Lowe's Companies by 0.4% during the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after purchasing an additional 230,359 shares during the last quarter. Northern Trust Corp boosted its holdings 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 worth $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Lowe's Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Lowe's Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Lowe's Companies by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after purchasing an additional 323,371 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LOW shares. JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. Stifel Nicolaus cut their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Truist Financial set a $264.00 target price on Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $270.68.

Insider Activity

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

Lowe's Companies Stock Performance

Shares of NYSE LOW traded down $1.11 during midday trading on Monday, reaching $240.04. 2,602,458 shares of the company's stock were exchanged, compared to its average volume of 2,697,837. 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 $134.53 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The business's fifty day moving average price is $224.68 and its two-hundred day moving average price is $230.41.

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, 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 business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same period in the previous year, the company earned $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a positive change 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 dividend payout ratio is presently 39.77%.

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.