First Fiduciary Investment Counsel Inc. Lowers Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

First Fiduciary Investment Counsel Inc. lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,054 shares of the home improvement retailer's stock after selling 5,304 shares during the period. Lowe's Companies accounts for 4.7% of First Fiduciary Investment Counsel Inc.'s holdings, making the stock its 3rd biggest position. First Fiduciary Investment Counsel Inc.'s holdings in Lowe's Companies were worth $21,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Insight Inv LLC lifted its holdings in shares of Lowe's Companies by 1.2% during the first quarter. Insight Inv LLC now owns 5,367 shares of the home improvement retailer's stock worth $1,252,000 after purchasing an additional 65 shares during the period. Argent Advisors Inc. acquired a new position in shares of Lowe's Companies during the first quarter valued at about $222,000. Amalgamated Bank grew its holdings in Lowe's Companies by 0.8% during the first quarter. Amalgamated Bank now owns 111,962 shares of the home improvement retailer's stock worth $26,113,000 after buying an additional 917 shares in the last quarter. Crown Wealth Group LLC boosted its holdings in Lowe's Companies by 5.6% during the first quarter. Crown Wealth Group LLC now owns 1,088 shares of the home improvement retailer's stock worth $254,000 after purchasing an additional 58 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of Lowe's Companies by 6.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 2,214 shares of the home improvement retailer's stock worth $516,000 after buying an additional 139 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.8%

Shares of Lowe's Companies stock traded down $1.81 on Monday, hitting $221.82. The company's stock had a trading volume of 2,735,307 shares, compared to its average volume of 2,491,101. The firm has a fifty day moving average price of $223.18 and a 200-day moving average price of $235.85. The company has a market capitalization of $124.32 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $311.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results 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 firm had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.06 earnings per share. As a group, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business 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 of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.16%. 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%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LOW. Citigroup restated a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Mizuho reiterated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. Royal Bank Of Canada reduced their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. One investment 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 data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Insider Activity

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 shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.