Douglas Lane & Associates LLC Has $59.94 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Douglas Lane & Associates LLC reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,982 shares of the home improvement retailer's stock after selling 2,188 shares during the quarter. Douglas Lane & Associates LLC's holdings in Lowe's Companies were worth $59,936,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV grew its holdings in Lowe's Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after acquiring an additional 501 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Lowe's Companies by 14.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after purchasing an additional 13,092 shares during the period. World Investment Advisors grew its stake in shares of Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Lowe's Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after purchasing an additional 7,187 shares during the period. Finally, Northern Trust Corp raised its position in Lowe's Companies by 16.3% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 0.2%

LOW stock traded up $0.38 during midday trading on Thursday, hitting $228.77. 658,499 shares of the company's stock were exchanged, compared to its average volume of 2,644,166. The stock has a market capitalization of $128.04 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The firm has a 50 day moving average price of $224.01 and a 200-day moving average price of $242.26.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued 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 for 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 was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.06 earnings per share. On average, sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.10%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LOW. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. DA Davidson reduced their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Bank of America cut their price objective on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Mizuho set a $280.00 price target on shares of Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Piper Sandler reduced their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.