Hartline Investment Corp Lowers Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Hartline Investment Corp lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,627 shares of the home improvement retailer's stock after selling 2,189 shares during the period. Lowe's Companies comprises approximately 0.9% of Hartline Investment Corp's holdings, making the stock its 24th biggest position. Hartline Investment Corp's holdings in Lowe's Companies were worth $6,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LOW. 44 Wealth Management LLC increased its holdings in Lowe's Companies by 1.3% during the first quarter. 44 Wealth Management LLC now owns 8,822 shares of the home improvement retailer's stock valued at $2,058,000 after buying an additional 110 shares during the last quarter. Avantax Planning Partners Inc. boosted its stake in shares of Lowe's Companies by 6.8% during the 1st quarter. Avantax Planning Partners Inc. now owns 1,881 shares of the home improvement retailer's stock worth $439,000 after acquiring an additional 120 shares during the last quarter. Calamos Wealth Management LLC grew its position in shares of Lowe's Companies by 27.0% during the 1st quarter. Calamos Wealth Management LLC now owns 6,237 shares of the home improvement retailer's stock valued at $1,455,000 after acquiring an additional 1,326 shares during the period. Aurora Private Wealth Inc. purchased a new stake in shares of Lowe's Companies in the 1st quarter worth $4,748,000. Finally, Davidson Trust Co. raised its holdings in Lowe's Companies by 11.5% in the 1st quarter. Davidson Trust Co. now owns 4,776 shares of the home improvement retailer's stock worth $1,114,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on LOW shares. DA Davidson cut their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and set a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Stifel Nicolaus dropped their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Truist Financial set a $264.00 target price on shares of Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird dropped their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Trading Up 0.5%

Shares of LOW stock traded up $1.06 during trading hours on Friday, hitting $228.00. The company's stock had a trading volume of 1,777,904 shares, compared to its average volume of 2,498,145. The stock has a market cap of $127.78 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The company has a 50 day moving average of $223.84 and a 200 day moving average of $235.23.

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 for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned $3.06 EPS. As a group, analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared 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. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 38.11%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 31,898 shares in the company, valued at approximately $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 accessible through this link. 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.