Concurrent Investment Advisors LLC Purchases 11,611 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Concurrent Investment Advisors LLC boosted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 38.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,932 shares of the home improvement retailer's stock after purchasing an additional 11,611 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Lowe's Companies were worth $9,780,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. HM Payson & Co. increased its holdings in shares of Lowe's Companies by 5.9% during the first quarter. HM Payson & Co. now owns 232,047 shares of the home improvement retailer's stock valued at $54,120,000 after acquiring an additional 12,994 shares in the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Lowe's Companies by 13.9% during the first quarter. Capital Investment Advisory Services LLC now owns 26,520 shares of the home improvement retailer's stock valued at $6,185,000 after acquiring an additional 3,243 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Lowe's Companies by 1.6% during the first quarter. Strategic Blueprint LLC now owns 5,879 shares of the home improvement retailer's stock valued at $1,371,000 after buying an additional 94 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of Lowe's Companies by 8.8% during the first quarter. IFM Investors Pty Ltd now owns 117,268 shares of the home improvement retailer's stock valued at $27,350,000 after buying an additional 9,461 shares during the last quarter. Finally, 44 Wealth Management LLC boosted its position in shares of Lowe's Companies by 1.3% during the first quarter. 44 Wealth Management LLC now owns 8,822 shares of the home improvement retailer's stock valued at $2,058,000 after buying an additional 110 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LOW shares. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Wells Fargo & Company cut their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Citigroup reissued a "neutral" rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a report on Wednesday, May 21st. 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 company's stock. According to MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Trading Up 0.5%

Shares of LOW stock traded up $1.06 during trading hours on Friday, reaching $228.00. The stock had a trading volume of 1,777,904 shares, compared to its average volume of 2,500,517. The stock's fifty day simple moving average is $223.98 and its 200 day simple moving average is $235.03. The firm has a market capitalization of $127.78 billion, a PE ratio of 19.28, a PEG ratio of 2.16 and a beta of 0.90. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the firm earned $3.06 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. 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 yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is currently 38.11%.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company'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 directly owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. 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 corporate insiders.

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.