Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Lowe's Companies by 2.9%, now owning around 748,565 shares worth approximately $174.6 million.
• Lowe's has announced an increase in its quarterly dividend to $1.20 per share, marking an annualized yield of 2.0%.
• The company's latest earnings report showed a per-share profit of $2.92, slightly surpassing analyst estimates while experiencing a 2.0% decline in quarterly revenue year-over-year.

HighTower Advisors LLC lessened its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 748,565 shares of the home improvement retailer's stock after selling 22,116 shares during the quarter. HighTower Advisors LLC owned approximately 0.13% of Lowe's Companies worth $174,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Lowe's Companies by 0.4% during the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock valued at $12,736,545,000 after buying an additional 230,359 shares during the period. Northern Trust Corp grew its position in Lowe's Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares during the period. Invesco Ltd. grew its position in Lowe's Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after buying an additional 501,154 shares during the period. Goldman Sachs Group Inc. grew its position in Lowe's Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock valued at $1,192,213,000 after buying an additional 330,701 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lowe's Companies by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after buying an additional 323,371 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.5%

NYSE:LOW opened at $240.04 on Tuesday. The company's 50-day moving average price is $224.68 and its 200-day moving average price is $230.41. The company has a market cap of $134.53 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

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, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. Lowe's Companies's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. 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. Lowe's Companies's payout ratio is presently 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the company a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Mizuho reaffirmed an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a report on Friday, June 13th. Royal Bank Of Canada decreased their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a report on Thursday, May 22nd. Finally, Robert W. Baird decreased their price objective on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $270.68.

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.

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