Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Lowe's Companies by 8.3%, owning approximately 0.17% of the company, which is valued at $222.1 million as of the end of the first quarter.
• Lowe's Companies announced a quarterly dividend increase to $1.20 per share, reflecting a yield of 2.12%, with the dividend payout ratio at 39.77%.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Lowe's stock, with average price targets ranging from $240 to $285 per share.

LPL Financial LLC lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 952,463 shares of the home improvement retailer's stock after purchasing an additional 72,936 shares during the quarter. LPL Financial LLC owned 0.17% of Lowe's Companies worth $222,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position in Lowe's Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC increased its position 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 valued at $266,000 after acquiring an additional 259 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Lowe's Companies during the fourth quarter valued at about $300,000. Loomis Sayles & Co. L P grew its holdings in Lowe's Companies by 91.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 380 shares of the home improvement retailer's stock valued at $94,000 after purchasing an additional 181 shares during the period. Finally, United Bank grew its holdings in Lowe's Companies by 10.0% during the fourth quarter. United Bank now owns 11,113 shares of the home improvement retailer's stock valued at $2,743,000 after purchasing an additional 1,014 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

NYSE LOW traded down $2.95 during midday trading on Thursday, hitting $224.48. 874,754 shares of the company traded hands, compared to its average volume of 2,632,302. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company's 50-day simple moving average is $222.93 and its 200-day simple moving average is $232.09. The company has a market cap of $125.81 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insider Buying and Selling at Lowe's Companies

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 stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president 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 filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Guggenheim reissued a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a report on Tuesday, July 22nd. Royal Bank Of Canada cut their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and issued a $253.00 price objective (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus dropped their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

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.