Phoenix Financial Ltd. Buys 2,568 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Phoenix Financial Ltd. boosted its stake in Lowe's Companies by 142.9% during the first quarter, now owning 4,365 shares valued at over $1 million.
• Lowe's reported a quarterly EPS of $2.92, exceeding analysts' expectations, although revenue fell short of estimates at $20.93 billion.
• The company increased its quarterly dividend from $1.15 to $1.20 per share, reflecting a solid annualized yield of 2.12%.

Phoenix Financial Ltd. raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 142.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,365 shares of the home improvement retailer's stock after purchasing an additional 2,568 shares during the quarter. Phoenix Financial Ltd.'s holdings in Lowe's Companies were worth $1,021,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LOW. Brighton Jones LLC raised its stake in shares of Lowe's Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after buying an additional 259 shares in the last quarter. Financial Engines Advisors L.L.C. raised its position in Lowe's Companies by 171.0% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 4,146 shares of the home improvement retailer's stock valued at $1,023,000 after buying an additional 2,616 shares during the last quarter. Ausdal Financial Partners Inc. lifted its stake in Lowe's Companies by 77.6% during the 4th quarter. Ausdal Financial Partners Inc. now owns 2,532 shares of the home improvement retailer's stock valued at $625,000 after acquiring an additional 1,106 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Lowe's Companies during the 4th quarter worth $300,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Stock Up 0.6%

Shares of LOW stock traded up $1.27 on Friday, reaching $226.83. The company's stock had a trading volume of 2,053,515 shares, compared to its average volume of 2,456,194. The company has a market capitalization of $127.12 billion, a P/E ratio of 18.79, a PEG ratio of 2.14 and a beta of 0.90. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The stock's 50 day simple moving average is $223.04 and its 200-day simple moving average is $232.26.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during 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 company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $3.06 EPS. Research analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.12%. 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 currently 39.77%.

Analysts Set New Price Targets

LOW has been the topic of several analyst reports. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Citigroup reaffirmed a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. 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. DA Davidson decreased their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, KeyCorp upgraded 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 note on Friday, April 25th. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $271.12.

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.