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

Perigon Wealth Management LLC lessened its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 54.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,709 shares of the home improvement retailer's stock after selling 4,364 shares during the period. Perigon Wealth Management LLC's holdings in Lowe's Companies were worth $865,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its position in Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after acquiring an additional 259,766 shares during the period. Geode Capital Management LLC increased its position in Lowe's Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after purchasing an additional 245,876 shares during the period. Norges Bank acquired a new position in Lowe's Companies during the 4th quarter worth approximately $1,842,954,000. Northern Trust Corp increased its position in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lowe's Companies by 6.9% during the 4th 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 worth $1,242,793,000 after purchasing an additional 323,371 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Up 1.1%

LOW stock opened at $223.66 on Friday. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock's fifty day simple moving average is $223.18 and its 200-day simple moving average is $236.04. The stock has a market capitalization of $125.35 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92.

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 business had revenue of $20.93 billion for the quarter, compared to analysts' expectations 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 was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 earnings per share. As a group, analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is 38.11%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 now owns 31,898 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup reiterated a "neutral" rating and set a $253.00 target price (down previously from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Piper Sandler decreased their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price target on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. One research 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.