Haverford Financial Services Inc. Has $10.18 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Haverford Financial Services Inc. reduced its stake in Lowe's Companies, Inc. by 10%, holding 43,665 shares valued at approximately $10.18 million as of the latest quarter.
• Lowe's has announced a quarterly dividend increase from $1.15 to $1.20 per share, reflecting a dividend yield of 2.1% and scheduled for payment on August 6th.
• Despite a revenue decline of 2% year-over-year, Lowe's reported earnings of $2.92 per share, exceeding expectations by $0.04, indicating resilience in its financial performance.

Haverford Financial Services Inc. trimmed its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 43,665 shares of the home improvement retailer's stock after selling 4,872 shares during the period. Lowe's Companies accounts for approximately 3.1% of Haverford Financial Services Inc.'s investment portfolio, making the stock its 14th biggest position. Haverford Financial Services Inc.'s holdings in Lowe's Companies were worth $10,184,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Wood Tarver Financial Group LLC purchased a new position in shares of Lowe's Companies during the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of Lowe's Companies during the first quarter valued at about $32,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies during the fourth quarter valued at about $36,000. Inlight Wealth Management LLC purchased a new position in shares of Lowe's Companies during the first quarter valued at about $36,000. Finally, IFS Advisors LLC increased its position in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Up 1.7%

Shares of LOW traded up $3.86 during trading hours on Tuesday, reaching $237.67. The company's stock had a trading volume of 3,107,025 shares, compared to its average volume of 2,648,738. The firm has a market cap of $133.20 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.21 and a beta of 0.89. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company has a 50 day moving average of $223.29 and a two-hundred day moving average of $231.19.

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 EPS for the quarter, beating 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 company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.06 earnings per share. As a group, analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is 39.77%.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated 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 trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LOW. JPMorgan Chase & Co. cut their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Citigroup decreased their price target on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, May 21st. Morgan Stanley reduced their price objective on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, 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. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $270.68.

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.