Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Geneva Capital Management LLC

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 lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 17.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new position in Lowe's Companies in the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies during the first quarter valued at $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies during the fourth quarter valued at $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies during the first quarter valued at $36,000. Finally, IFS Advisors LLC boosted its holdings in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Trading Up 3.4%

NYSE LOW opened at $233.99 on Tuesday. The stock's 50-day moving average price is $223.29 and its two-hundred day moving average price is $231.19. The company has a market cap of $131.14 billion, a PE ratio of 19.39, a PEG ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.06 EPS. Research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, July 23rd. 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%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's 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 sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein set a $266.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Stifel Nicolaus reduced their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Robert W. Baird reduced their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $270.68.

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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