Merit Financial Group LLC Boosts Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Merit Financial Group LLC increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 39.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,873 shares of the home improvement retailer's stock after purchasing an additional 7,580 shares during the quarter. Merit Financial Group LLC's holdings in Lowe's Companies were worth $6,268,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LOW. Wood Tarver Financial Group LLC bought a new position in Lowe's Companies in the fourth quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in shares of Lowe's Companies in the 4th quarter valued at about $31,000. Caisse Des Depots ET Consignations bought a new stake in Lowe's Companies in the 4th quarter valued at $33,000. Orion Capital Management LLC acquired a new stake in Lowe's Companies during the fourth quarter worth approximately $36,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Lowe's Companies in the 4th quarter valued at $42,000. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada decreased their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. DA Davidson decreased their price objective on shares of 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. Stifel Nicolaus cut their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Trading Down 0.4%

Shares of NYSE LOW traded down $0.91 during midday trading on Thursday, hitting $227.48. The company's stock had a trading volume of 1,985,083 shares, compared to its average volume of 2,516,440. The stock has a fifty day moving average price of $224.01 and a 200 day moving average price of $242.26. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market capitalization of $127.32 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 EPS. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction 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 $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

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.