Lake Street Private Wealth LLC Purchases New Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Lake Street Private Wealth LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,307 shares of the home improvement retailer's stock, valued at approximately $305,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in Lowe's Companies by 1.0% in 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 acquiring an additional 259,766 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Lowe's Companies by 2.1% in the 4th 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 during the period. Norges Bank bought a new position in shares of Lowe's Companies in the 4th quarter worth $1,842,954,000. Northern Trust Corp grew its stake 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 worth $1,745,960,000 after purchasing an additional 993,833 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lowe's Companies by 6.9% in 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 during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LOW shares. Wall Street Zen upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Bank of America decreased their price objective on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Citigroup reiterated a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Piper Sandler dropped their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Stock Down 0.4%

Shares of Lowe's Companies stock opened at $227.48 on Friday. The stock has a market cap of $127.32 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business's 50 day moving average is $223.89 and its 200-day moving average is $241.95.

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 analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. 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. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.11%. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insider Activity

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 transaction, the executive vice president now directly owns 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

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.

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