Gradient Investments LLC Purchases 21,525 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Gradient Investments LLC raised its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 22.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,854 shares of the home improvement retailer's stock after acquiring an additional 21,525 shares during the period. Gradient Investments LLC's holdings in Lowe's Companies were worth $27,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Nations Financial Group Inc. IA ADV grew its holdings in shares of Lowe's Companies by 2.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after purchasing an additional 501 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Lowe's Companies by 14.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after buying an additional 13,092 shares during the period. World Investment Advisors lifted its stake in Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after buying an additional 2,615 shares during the period. Great Lakes Advisors LLC lifted its stake in Lowe's Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after buying an additional 7,187 shares during the period. Finally, Northern Trust Corp lifted its stake in 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 valued at $1,745,960,000 after buying an additional 993,833 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE:LOW traded up $1.29 during trading on Thursday, reaching $229.68. The company's stock had a trading volume of 602,483 shares, compared to its average volume of 2,511,047. The firm has a market cap of $128.55 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The firm has a 50 day moving average of $224.01 and a 200-day moving average of $242.26.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate 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 negative return on equity of 47.55% and a net margin of 8.19%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.06 EPS. Equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.09%. Lowe's Companies's dividend payout ratio is presently 39.77%.

Analysts Set New Price Targets

Several brokerages have issued reports on LOW. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Bank of America lowered their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Mizuho set a $280.00 target price on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Piper Sandler lowered their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Royal Bank of Canada lowered their target price on 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $271.12.

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.