Invesco LLC Acquires 1,554 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Invesco LLC increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 108.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,991 shares of the home improvement retailer's stock after buying an additional 1,554 shares during the quarter. Invesco LLC's holdings in Lowe's Companies were worth $698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new stake in shares of Lowe's Companies in the 4th quarter valued at approximately $25,000. Caisse Des Depots ET Consignations acquired a new position in Lowe's Companies during the fourth quarter worth $33,000. Orion Capital Management LLC bought a new position in shares of Lowe's Companies during the fourth quarter valued at $36,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter valued at $36,000. Finally, IFS Advisors LLC boosted its stake in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Up 0.7%

Shares of LOW traded up $1.55 during mid-day trading on Tuesday, reaching $220.12. The company's stock had a trading volume of 2,208,261 shares, compared to its average volume of 2,540,637. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The business has a 50-day simple moving average of $222.92 and a two-hundred day simple moving average of $237.17. The stock has a market cap of $123.36 billion, a P/E ratio of 18.24, a PEG ratio of 2.01 and a beta of 0.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its 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 firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 38.11%.

Analyst Ratings Changes

A number of research firms have commented on LOW. Piper Sandler reduced their price target on shares of 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. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction 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 transaction, the executive vice president now owns 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

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.