Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Concord Wealth Partners

Concord Wealth Partners trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 53.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,533 shares of the home improvement retailer's stock after selling 4,043 shares during the quarter. Concord Wealth Partners' holdings in Lowe's Companies were worth $824,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LOW. Norges Bank purchased a new position in Lowe's Companies during the fourth quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC lifted its position in 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 worth $585,770,000 after buying an additional 1,846,315 shares during the period. GAMMA Investing LLC lifted its position in 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 worth $386,540,000 after buying an additional 1,651,170 shares during the period. Northern Trust Corp lifted its position in 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 buying an additional 993,833 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Lowe's Companies by 1,048.5% during the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock worth $172,527,000 after buying an additional 675,318 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's 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 transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Piper Sandler lowered their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. KeyCorp raised 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. Wells Fargo & Company lowered their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE:LOW traded up $0.56 during trading on Friday, hitting $219.14. The company's stock had a trading volume of 2,399,060 shares, compared to its average volume of 2,496,913. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The stock's 50-day moving average price is $223.67 and its two-hundred day moving average price is $233.40. The company has a market capitalization of $122.81 billion, a PE ratio of 18.16, a PEG ratio of 2.05 and a beta of 0.90.

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 the consensus estimate 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 analysts' expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The company's revenue was down 2.0% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. 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 annualized dividend and a dividend yield of 2.19%. Lowe's Companies's payout ratio is 38.11%.

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.