Geneva Capital Management LLC Has $1.97 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Geneva Capital Management LLC reduced its holdings in Lowe's Companies by 17.7%, owning 8,462 shares worth approximately $1.97 million after a sale of 1,823 shares in the first quarter.
• Lowe's recently announced a quarterly dividend increase to $1.20 per share, reflecting a yield of 2.1%, with payments scheduled for August 6th.
• The company's stock opened at $233.99 and has shown a 3.4% increase while maintaining a market cap of $131.14 billion.

Geneva Capital Management LLC decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,462 shares of the home improvement retailer's stock after selling 1,823 shares during the quarter. Geneva Capital Management LLC's holdings in Lowe's Companies were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Gen Wealth Partners Inc lifted its position in shares of Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after purchasing an additional 40 shares during the last quarter. Peachtree Investment Partners LLC raised its holdings in Lowe's Companies by 3.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer's stock valued at $317,000 after acquiring an additional 42 shares in the last quarter. Second Line Capital LLC raised its holdings in Lowe's Companies by 0.9% in the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after acquiring an additional 44 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Lowe's Companies by 0.8% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after acquiring an additional 47 shares in the last quarter. Finally, Fielder Capital Group LLC raised its holdings in Lowe's Companies by 5.9% in the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent research reports. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. 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 report on Tuesday, May 6th. 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 report on Thursday, May 22nd. Morgan Stanley dropped their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Royal Bank Of Canada dropped their target price on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Lowe's Companies Stock Up 1.2%

LOW traded up $2.81 during trading on Friday, reaching $241.37. 2,746,101 shares of the stock traded hands, compared to its average volume of 2,652,532. The stock has a market capitalization of $135.27 billion, a PE ratio of 20.00, a P/E/G ratio of 2.25 and a beta of 0.89. The stock's 50-day moving average is $224.39 and its 200 day moving average is $230.97. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly 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. The business 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 business's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 earnings per share. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a dividend of $1.20 per share. This is a boost 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 currently 39.77%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by company insiders.

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.