Lowe's Companies, Inc. (NYSE:LOW) Position Increased by HM Payson & Co.

HM Payson & Co. lifted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,047 shares of the home improvement retailer's stock after buying an additional 12,994 shares during the quarter. HM Payson & Co.'s holdings in Lowe's Companies were worth $54,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the fourth quarter valued at approximately $25,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe's Companies in the fourth quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies in the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC purchased a new stake in Lowe's Companies in the first quarter valued at approximately $36,000. Finally, IFS Advisors LLC grew its holdings in Lowe's Companies by 60.0% in 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 during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. DA Davidson lowered their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and set a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given 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 Up 0.5%

Shares of NYSE LOW traded up $1.06 during trading on Friday, reaching $228.00. 1,777,904 shares of the stock were exchanged, compared to its average volume of 2,500,517. The business's 50-day moving average price is $223.98 and its 200 day moving average price is $234.93. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market capitalization of $127.78 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The firm 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 8.22% and a negative return on equity of 49.12%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. As a group, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.11%. Lowe's Companies's dividend payout ratio is currently 38.11%.

Insider Transactions at Lowe's Companies

In related 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 sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

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.