Lowe's Companies, Inc. (NYSE:LOW) Holdings Reduced by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC reduced its holdings in Lowe's Companies, Inc. by 59.1% in the first quarter, now holding approximately 971,018 shares worth about $226.47 million.
• Lowe's reported $2.92 earnings per share for the last quarter, surpassing expectations but showing a 2.0% decline in revenue compared to the same quarter last year.
• The company announced a new quarterly dividend of $1.20, up from the previous $1.15, reflecting a dividend yield of 1.9% and a payout ratio of 39.77%.

Kovitz Investment Group Partners LLC cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 59.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 971,018 shares of the home improvement retailer's stock after selling 1,402,442 shares during the period. Lowe's Companies accounts for approximately 1.1% of Kovitz Investment Group Partners LLC's holdings, making the stock its 16th biggest holding. Kovitz Investment Group Partners LLC owned approximately 0.17% of Lowe's Companies worth $226,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Gen Wealth Partners Inc lifted its holdings in shares of Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock valued at $534,000 after acquiring an additional 40 shares in the last quarter. Second Line Capital LLC lifted its holdings in shares of Lowe's Companies by 0.9% during the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after acquiring an additional 44 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Lowe's Companies by 0.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after acquiring an additional 47 shares in the last quarter. Fielder Capital Group LLC lifted its holdings in shares of Lowe's Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after acquiring an additional 48 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its holdings in shares of Lowe's Companies by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock valued at $1,066,000 after acquiring an additional 49 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.27% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded down $1.19 during trading on Friday, reaching $251.86. 3,025,751 shares of the company's stock traded hands, compared to its average volume of 2,874,602. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a 50 day moving average of $226.61 and a 200-day moving average of $230.28. The stock has a market capitalization of $141.15 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. Lowe's Companies's payout ratio is currently 39.77%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Citigroup reduced their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company reduced their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Morgan Stanley reduced 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 report on Monday, May 5th. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a report on Wednesday. Finally, Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the stock an "outperform" rating in a report on Thursday, May 22nd. One equities research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $270.68.

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.