Moors & Cabot Inc. Sells 5,204 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Moors & Cabot Inc. has reduced its holdings in Lowe's Companies, Inc. by 21.3%, selling 5,204 shares and now holding 19,246 shares worth approximately $4.49 million.
• Lowe's Companies reported $2.92 earnings per share for the latest quarter, surpassing estimates, but experienced a 2.0% decline in revenue compared to the previous year.
• The company plans to increase its quarterly dividend from $1.15 to $1.20 per share, with an annualized yield of 2.1% expected to be paid on August 6th.

Moors & Cabot Inc. decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,246 shares of the home improvement retailer's stock after selling 5,204 shares during the quarter. Moors & Cabot Inc.'s holdings in Lowe's Companies were worth $4,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Gen Wealth Partners Inc lifted its position in shares of Lowe's Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after buying an additional 40 shares during the last quarter. Peachtree Investment Partners LLC raised its stake in shares of Lowe's Companies by 3.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer's stock valued at $317,000 after acquiring an additional 42 shares in the last quarter. Second Line Capital LLC raised its stake in shares of Lowe's Companies by 0.9% in the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after acquiring an additional 44 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Lowe's Companies by 0.8% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock worth $1,357,000 after purchasing an additional 47 shares during the last quarter. Finally, Fielder Capital Group LLC boosted its position in Lowe's Companies by 5.9% during the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock worth $202,000 after purchasing an additional 48 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 1.7%

NYSE LOW opened at $223.55 on Friday. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock has a market cap of $125.28 billion, a P/E ratio of 18.52, a PEG ratio of 2.15 and a beta of 0.90. The company's 50-day simple moving average is $222.93 and its 200 day simple moving average is $231.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $3.06 EPS. The company's revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate 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. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insider Transactions 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 on 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 directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, May 21st. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Morgan Stanley cut their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $270.68.

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.

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