Lowe's Companies, Inc. (NYSE:LOW) Shares Bought by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance boosted its position in Lowe's Companies, Inc. by 3.0%, acquiring 1,637 additional shares, bringing its total holdings to a value of approximately $13.3 million.
• Lowe's latest quarterly earnings report showed an EPS of $2.92, beating analyst expectations, although revenue declined 2.0% year-over-year to $20.93 billion.
• The company recently declared a quarterly dividend of $1.20 per share, an increase from the previous quarter's $1.15, resulting in an annualized dividend yield of 2.0%.

Independent Advisor Alliance boosted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,988 shares of the home improvement retailer's stock after buying an additional 1,637 shares during the quarter. Independent Advisor Alliance's holdings in Lowe's Companies were worth $13,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new stake in Lowe's Companies during the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies during the first quarter valued at $32,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the fourth quarter valued at $36,000. Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the first quarter valued at $36,000. Finally, IFS Advisors LLC lifted its holdings in Lowe's Companies by 60.0% during the first 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. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $241.37 on Monday. The company's 50 day simple moving average is $224.39 and its 200-day simple moving average is $230.57. The company has a market capitalization of $135.27 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

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 earnings per share (EPS) 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 the consensus estimate of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business's revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 EPS. Equities analysts expect 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 was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were 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 was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's payout ratio is presently 39.77%.

Analyst Ratings Changes

Several research firms have issued reports on LOW. Wells Fargo & Company decreased their price objective 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. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley decreased their price objective 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $270.68.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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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