Iowa State Bank Sells 2,396 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Iowa State Bank decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,672 shares of the home improvement retailer's stock after selling 2,396 shares during the period. Iowa State Bank's holdings in Lowe's Companies were worth $3,189,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC bought a new stake in Lowe's Companies during the fourth quarter worth about $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe's Companies in the fourth quarter worth about $31,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe's Companies in the fourth quarter worth about $33,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies in the fourth quarter worth about $36,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of Lowe's Companies in the fourth quarter worth about $42,000. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 0.3%

Lowe's Companies stock traded up $0.65 during trading on Thursday, reaching $229.04. The company had a trading volume of 648,242 shares, compared to its average volume of 2,511,236. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The firm's 50-day simple moving average is $224.01 and its 200 day simple moving average is $242.26. The firm has a market capitalization of $128.20 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 earnings per share. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current 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 $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.10%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus cut 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 report on Tuesday, May 27th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.