Fiduciary Family Office LLC Makes New $651,000 Investment in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Fiduciary Family Office LLC has invested approximately $651,000 in Lowe's Companies, acquiring 2,792 shares, indicating investor confidence in the home improvement retailer.
• Lowe's reported a quarterly EPS of $2.92, exceeding analysts' expectations, despite a 2.0% decline in revenue compared to the previous year.
• The company announced an increase in its quarterly dividend to $1.20 per share, representing a 2.0% dividend yield for shareholders.

Fiduciary Family Office LLC purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,792 shares of the home improvement retailer's stock, valued at approximately $651,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after purchasing an additional 259 shares during the last quarter. Renaissance Technologies LLC increased its position in Lowe's Companies by 2,962.5% in the 4th quarter. Renaissance Technologies LLC now owns 98,000 shares of the home improvement retailer's stock valued at $24,186,000 after acquiring an additional 94,800 shares in the last quarter. F M Investments LLC acquired a new stake in Lowe's Companies in the 4th quarter valued at about $201,000. Finally, Phoenix Financial Ltd. increased its position in Lowe's Companies by 16.3% in the 4th quarter. Phoenix Financial Ltd. now owns 1,797 shares of the home improvement retailer's stock valued at $444,000 after acquiring an additional 252 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Royal Bank Of Canada lowered their price target 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. Finally, KeyCorp upgraded shares of 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. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Stock Down 0.5%

Shares of LOW stock traded down $1.11 during mid-day trading on Monday, reaching $240.04. 2,602,458 shares of the company's stock traded hands, compared to its average volume of 2,697,837. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a market cap of $134.53 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.28 and a beta of 0.89. The company's 50-day moving average price is $224.68 and its 200-day moving average price is $230.41.

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 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 for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $3.06 EPS. Equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 39.77%.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated 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 owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by 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.