Inspire Advisors LLC Takes $607,000 Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Inspire Advisors LLC has made a new investment in Lowe's Companies, acquiring 2,604 shares valued at approximately $607,000.
• Lowe's reported earnings of $2.92 per share for the last quarter, surpassing analysts' expectations but experiencing a 2.0% decline in revenue year-over-year.
• The company has increased its quarterly dividend to $1.20 per share, while maintaining a dividend payout ratio of 39.77%.

Inspire Advisors LLC purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,604 shares of the home improvement retailer's stock, valued at approximately $607,000.

A number of other large investors have also bought and sold shares of LOW. FMR LLC lifted its position in shares of Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe's Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock valued at $2,952,341,000 after purchasing an additional 245,876 shares in the last quarter. Northern Trust Corp lifted its position in shares of Lowe's Companies by 16.3% during 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 purchasing an additional 993,833 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Lowe's Companies by 6.9% during 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 valued at $1,242,793,000 after purchasing an additional 323,371 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Lowe's Companies by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 3,369,942 shares of the home improvement retailer's stock valued at $831,702,000 after purchasing an additional 66,300 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded down $2.96 during trading on Thursday, hitting $224.48. The company's stock had a trading volume of 874,754 shares, compared to its average volume of 2,632,302. The company has a fifty day simple moving average of $222.93 and a two-hundred day simple moving average of $232.09. The company has a market capitalization of $125.80 billion, a PE ratio of 18.58, a P/E/G ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data 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%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $3.06 EPS. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.14%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LOW. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, May 21st. Morgan Stanley dropped their target price on shares of 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. Guggenheim reissued a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research report on Tuesday, July 22nd. Robert W. Baird lowered their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were 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. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

About Lowe's Companies

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.