Dillon & Associates Inc. Lowers Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Dillon & Associates Inc. decreased its stake in Lowe's Companies by 2.9%, now owning 74,909 shares valued at $17.45 million.
• Several institutional investors have recently modified their holdings in Lowe’s, with hedge funds owning about 74.06% of the company's stock.
• Lowe's Companies declared a $1.20 quarterly dividend, up from the previous $1.15, with an annual yield of 2.0%.

Dillon & Associates Inc. reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 74,909 shares of the home improvement retailer's stock after selling 2,262 shares during the period. Lowe's Companies makes up approximately 2.6% of Dillon & Associates Inc.'s portfolio, making the stock its 12th biggest holding. Dillon & Associates Inc.'s holdings in Lowe's Companies were worth $17,454,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at $32,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies during the fourth quarter worth $36,000. Inlight Wealth Management LLC acquired a new stake in Lowe's Companies during the first quarter valued at $36,000. Finally, IFS Advisors LLC increased its holdings in Lowe's Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent analyst reports. Robert W. Baird lowered their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. Morgan Stanley cut their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.68.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The shares were 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 of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Lowe's Companies Stock Performance

Shares of LOW opened at $241.37 on Monday. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock has a market capitalization of $135.27 billion, a PE ratio of 20.00, a PEG ratio of 2.28 and a beta of 0.89. The stock has a 50-day simple moving average of $224.39 and a 200-day simple moving average of $230.57.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly 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. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. 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 declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is currently 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.

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