Foster Dykema Cabot & Partners LLC Raises Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Foster Dykema Cabot & Partners LLC increased its stake in Lowe's Companies, Inc. by 1.3% during the 1st quarter, holding a total of 84,422 shares valued at approximately $19.69 million.
• Lowe's reported a quarterly earnings per share of $2.92, surpassing estimates, but its revenue decreased by 2.0% year-over-year to $20.93 billion.
• The company declared a quarterly dividend increase from $1.15 to $1.20 per share, representing a 2.0% yield and a dividend payout ratio of 39.77%.

Foster Dykema Cabot & Partners LLC raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,422 shares of the home improvement retailer's stock after purchasing an additional 1,078 shares during the period. Lowe's Companies makes up approximately 1.6% of Foster Dykema Cabot & Partners LLC's holdings, making the stock its 24th largest holding. Foster Dykema Cabot & Partners LLC's holdings in Lowe's Companies were worth $19,690,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Lowe's Companies by 0.4% during the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock valued at $12,736,545,000 after purchasing an additional 230,359 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after buying an additional 993,833 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Lowe's Companies by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after buying an additional 330,701 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Lowe's Companies by 6.9% in 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Lowe's Companies by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer's stock worth $816,711,000 after buying an additional 42,676 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

NYSE LOW traded up $2.81 during mid-day trading on Friday, reaching $241.37. The stock had a trading volume of 2,746,101 shares, compared to its average volume of 2,652,532. 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 cap of $135.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89. The company has a fifty day moving average price of $224.39 and a 200 day moving average price of $230.97.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced 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 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%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. As a group, equities research 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 was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Analyst Ratings Changes

Several research firms have recently commented on LOW. Wells Fargo & Company decreased their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Mizuho reissued an "outperform" rating and issued a $280.00 target price on shares of Lowe's Companies in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $270.68.

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 on 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 sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.