Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,063 shares of the home improvement retailer's stock after purchasing an additional 11,491 shares during the quarter. Cerity Partners LLC's holdings in Lowe's Companies were worth $51,325,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies in the fourth quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in Lowe's Companies in the first quarter valued at about $32,000. Caisse Des Depots ET Consignations purchased a new position in Lowe's Companies in the fourth quarter valued at about $33,000. Orion Capital Management LLC purchased a new position in Lowe's Companies in the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Lowe's Companies in the first quarter valued at about $36,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Down 1.7%

Shares of LOW stock opened at $224.12 on Friday. The business has a 50 day moving average of $224.14 and a two-hundred day moving average of $234.24. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The company has a market cap of $125.61 billion, a P/E ratio of 18.57, a PEG ratio of 2.15 and a beta of 0.90.

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

Lowe's Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders 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 annualized dividend and a dividend yield of 2.14%. Lowe's Companies's payout ratio is currently 38.11%.

Analysts Set New Price Targets

Several research analysts have commented on LOW shares. Piper Sandler cut their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Mizuho reaffirmed an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. Finally, Truist Financial set a $264.00 target price on Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $271.12.

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 stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company's stock.

About Lowe's Companies

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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