Econ Financial Services Corp Increases Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Econ Financial Services Corp boosted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 111.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,195 shares of the home improvement retailer's stock after purchasing an additional 4,324 shares during the period. Econ Financial Services Corp's holdings in Lowe's Companies were worth $1,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new stake in Lowe's Companies during the 4th quarter valued at $25,000. Caisse Des Depots ET Consignations bought a new stake in Lowe's Companies in the 4th quarter worth $33,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies in the fourth quarter valued at about $36,000. Inlight Wealth Management LLC bought a new position in shares of Lowe's Companies during the first quarter valued at about $36,000. Finally, IFS Advisors LLC boosted its holdings in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 0.3%

Shares of NYSE:LOW traded up $0.77 on Thursday, hitting $221.47. 2,250,147 shares of the company traded hands, compared to its average volume of 2,528,564. The stock has a 50 day simple moving average of $223.03 and a 200-day simple moving average of $236.94. The company has a market cap of $124.12 billion, a PE ratio of 18.35, a PEG ratio of 2.08 and a beta of 0.92. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

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

Lowe's Companies Increases Dividend

The company also recently declared 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 of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.17%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Stifel Nicolaus reduced their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. decreased their target price 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. Finally, DA Davidson dropped their price target on 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. One 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Insider Buying and Selling

In other Lowe's Companies 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 completion of the transaction, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

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.