Atwater Malick LLC Increases Position in Lowe's Companies, Inc. (NYSE:LOW)

Atwater Malick LLC lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,916 shares of the home improvement retailer's stock after acquiring an additional 1,430 shares during the period. Lowe's Companies makes up approximately 2.5% of Atwater Malick LLC's portfolio, making the stock its 17th biggest position. Atwater Malick LLC's holdings in Lowe's Companies were worth $7,444,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LOW. Brighton Jones LLC raised its position in shares of Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares in the last quarter. Confluence Wealth Services Inc. increased its position in Lowe's Companies by 7.6% in the 4th quarter. Confluence Wealth Services Inc. now owns 4,258 shares of the home improvement retailer's stock valued at $1,113,000 after buying an additional 299 shares in the last quarter. Absher Wealth Management LLC increased its position in Lowe's Companies by 0.4% in the 4th quarter. Absher Wealth Management LLC now owns 17,185 shares of the home improvement retailer's stock valued at $4,241,000 after buying an additional 70 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its position in Lowe's Companies by 8.1% in the 4th quarter. Tyche Wealth Partners LLC now owns 6,729 shares of the home improvement retailer's stock valued at $1,661,000 after buying an additional 502 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. DA Davidson cut their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Robert W. Baird cut their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Piper Sandler cut their price target on 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. Finally, Truist Financial set a $264.00 price target on Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Performance

LOW stock traded down $2.24 during midday trading on Friday, reaching $225.35. 2,216,796 shares of the company's stock traded hands, compared to its average volume of 2,520,330. The company has a 50-day moving average price of $223.72 and a two-hundred day moving average price of $241.72. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The firm has a market capitalization of $126.29 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its 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. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.13%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is presently 39.77%.

Lowe's Companies Company 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.