Graves Light Lenhart Wealth Inc. Cuts Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Graves Light Lenhart Wealth Inc. lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 61.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,380 shares of the home improvement retailer's stock after selling 2,223 shares during the quarter. Graves Light Lenhart Wealth Inc.'s holdings in Lowe's Companies were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Lowe's Companies in the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC grew its stake in shares of Lowe's Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after buying an additional 1,846,315 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Lowe's Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after buying an additional 1,651,170 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $314,435,000. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Lowe's Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after acquiring an additional 1,223,116 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Up 0.6%

Shares of NYSE LOW traded up $1.29 on Thursday, reaching $229.68. 602,483 shares of the company's stock traded hands, compared to its average volume of 2,511,047. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The business's 50 day simple moving average is $224.01 and its two-hundred day simple moving average is $242.26. The company 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 (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. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the firm earned $3.06 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. 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 issued a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.09%. Lowe's Companies's dividend payout ratio is presently 39.77%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Mizuho set a $280.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and issued a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Morgan Stanley decreased their price target on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Piper Sandler decreased their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, Lowe's Companies currently 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.