Cornerstone Wealth Group LLC Has $6.85 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Cornerstone Wealth Group LLC increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,361 shares of the home improvement retailer's stock after purchasing an additional 3,295 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Lowe's Companies were worth $6,848,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after acquiring an additional 259,766 shares during the period. Geode Capital Management LLC lifted its position in Lowe's Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after purchasing an additional 245,876 shares during the period. Norges Bank bought a new position in Lowe's Companies in the fourth quarter valued at approximately $1,842,954,000. Northern Trust Corp boosted its position in shares of Lowe's Companies by 16.3% in 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 purchasing an additional 993,833 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 buying an additional 323,371 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

NYSE:LOW traded up $1.55 during mid-day trading on Tuesday, reaching $220.12. The stock had a trading volume of 2,208,272 shares, compared to its average volume of 2,663,455. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The stock has a market capitalization of $123.36 billion, a PE ratio of 18.24, a P/E/G ratio of 2.01 and a beta of 0.92. The stock has a 50-day simple moving average of $222.92 and a two-hundred day simple moving average of $237.17.

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 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 firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the previous year, the firm earned $3.06 earnings per share. The business's quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 38.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOW. Stifel Nicolaus lowered their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Piper Sandler decreased their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, DA Davidson dropped their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $271.12.

Insiders Place Their Bets

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 shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company's stock.

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.