FAS Wealth Partners Inc. Reduces Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

FAS Wealth Partners Inc. lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 77.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,596 shares of the home improvement retailer's stock after selling 5,489 shares during the quarter. FAS Wealth Partners Inc.'s holdings in Lowe's Companies were worth $372,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies during the 4th quarter valued at about $25,000. Caisse Des Depots ET Consignations bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $33,000. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies during the 1st quarter valued at about $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies during the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Lowe's Companies during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target 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. Wells Fargo & Company dropped their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Piper Sandler dropped their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Robert W. Baird dropped their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE:LOW traded up $0.56 during midday trading on Friday, reaching $219.14. 2,399,060 shares of the company's stock traded hands, compared to its average volume of 2,495,500. The company has a market cap of $122.81 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 2.07 and a beta of 0.90. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a 50 day moving average of $223.61 and a 200 day moving average of $233.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results 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. 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 for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the company earned $3.06 earnings per share. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS 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. Shareholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.19%. Lowe's Companies's dividend payout ratio is presently 38.11%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated 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 sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This trade 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 this hyperlink. 0.27% of the stock is currently owned by 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.