Cetera Investment Advisers Grows Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Cetera Investment Advisers increased its stake in Lowe's Companies by 4.0%, acquiring an additional 9,542 shares, bringing their total ownership to nearly 250,000 shares valued at approximately $58.2 million.
• Lowe's Companies declared a quarterly dividend increase from $1.15 to $1.20 per share, with a dividend yield of 2.12% and a payout ratio of 39.77%.
• Despite a slight decline in revenue compared to last year, Lowe's reported $2.92 earnings per share for the most recent quarter, exceeding analyst expectations by $0.04.

Cetera Investment Advisers boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,488 shares of the home improvement retailer's stock after buying an additional 9,542 shares during the quarter. Cetera Investment Advisers' holdings in Lowe's Companies were worth $58,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in shares of Lowe's Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after buying an additional 1,470 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Lowe's Companies by 14.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after acquiring an additional 13,092 shares during the last quarter. World Investment Advisors raised its position in Lowe's Companies by 11.0% in the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Larson Financial Group LLC raised its position in Lowe's Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This trade represents 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 hyperlink. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on LOW shares. JPMorgan Chase & Co. lowered their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. DA Davidson reduced their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Stifel Nicolaus lowered 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 report on Tuesday, May 27th. Royal Bank Of Canada decreased their target price on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Up 0.6%

LOW traded up $1.27 during midday trading on Friday, hitting $226.83. The company had a trading volume of 2,053,515 shares, compared to its average volume of 2,456,194. The company has a market capitalization of $127.12 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.14 and a beta of 0.90. The stock's 50 day moving average price is $223.04 and its 200 day moving average price is $232.26. 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 issued its quarterly earnings data 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 firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business's revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. Research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS 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 dividend of $1.20 per share. This is a boost 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 2.12%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Lowe's Companies 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.