Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Sound View Wealth Advisors Group LLC

Key Points

• Sound View Wealth Advisors Group LLC reduced its stake in Lowe's Companies by 7.9%, now holding 13,122 shares valued at approximately $3.06 million.
• Lowe's Companies announced a quarterly dividend of $1.20, increasing from the previous $1.15, representing an annualized yield of 2.11%.
• Research analysts maintain a consensus rating of "Moderate Buy" for Lowe's with an average price target of $271.12.

Sound View Wealth Advisors Group LLC lessened its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,122 shares of the home improvement retailer's stock after selling 1,129 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Lowe's Companies were worth $3,061,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in Lowe's Companies in the first quarter valued at approximately $32,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies in the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC purchased a new stake in Lowe's Companies in the first quarter valued at approximately $36,000. Finally, IFS Advisors LLC raised its position in Lowe's Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 1.2%

Shares of NYSE LOW traded up $2.76 during midday trading on Friday, reaching $226.33. 3,400,746 shares of the company were exchanged, compared to its average volume of 2,422,152. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock has a fifty day simple moving average of $223.03 and a 200 day simple moving average of $231.74. The stock has a market cap of $126.84 billion, a P/E ratio of 18.75, a PEG ratio of 2.11 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $21.09 billion. During the same quarter in the previous year, the company earned $3.06 EPS. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is 39.77%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LOW shares. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. Wells Fargo & Company cut their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Morgan Stanley cut their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus target price of $270.68.

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.