Mechanics Bank Trust Department Has $3.42 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Mechanics Bank Trust Department boosted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 51.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,674 shares of the home improvement retailer's stock after purchasing an additional 5,015 shares during the period. Mechanics Bank Trust Department's holdings in Lowe's Companies were worth $3,422,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nations Financial Group Inc. IA ADV increased its holdings in Lowe's Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock valued at $4,894,000 after purchasing an additional 501 shares during the period. Aptus Capital Advisors LLC raised its stake in Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after buying an additional 13,092 shares during the last quarter. World Investment Advisors raised its stake in Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after buying an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Lowe's Companies by 1.5% in the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock worth $116,696,000 after purchasing an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Lowe's Companies by 16.3% in 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 buying an additional 993,833 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Up 0.6%

Lowe's Companies stock traded up $1.29 during mid-day trading on Thursday, hitting $229.68. 602,483 shares of the company's stock were exchanged, compared to its average volume of 2,511,031. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock has a 50 day moving average of $224.01 and a two-hundred day moving average of $242.26. The stock has a market cap of $128.55 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last released 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. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same period in the prior year, the company earned $3.06 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared 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. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.09%. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LOW. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. 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. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Mizuho set a $280.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. 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 MarketBeat, the company has a consensus 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.