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NewEdge Wealth LLC Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Lowe's Companies logo with Retail/Wholesale background

Key Points

  • NewEdge Wealth LLC increased its holdings in Lowe's Companies, Inc. by 7.2% during the first quarter, now owning 134,366 shares valued at approximately $31.34 million.
  • Lowe's announced a quarterly dividend increase from $1.15 to $1.20, payable on August 6th, representing an annualized yield of 2.1%.
  • The company reported $2.92 EPS for the recent quarter, beating analyst expectations, despite a 2.0% decline in revenue year-over-year.
  • Five stocks we like better than Lowe's Companies.

NewEdge Wealth LLC lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 134,366 shares of the home improvement retailer's stock after acquiring an additional 9,041 shares during the quarter. NewEdge Wealth LLC's holdings in Lowe's Companies were worth $31,338,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company's stock, 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 SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

Lowe's Companies Trading Up 1.2%

Shares of NYSE LOW opened at $226.33 on Friday. The stock has a market cap of $126.84 billion, a P/E ratio of 18.75, a PEG ratio of 2.14 and a beta of 0.89. The business's fifty day simple moving average is $223.03 and its 200-day simple moving average is $231.57. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted 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 company had revenue of $20.93 billion for 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%. Lowe's Companies's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 EPS. On average, equities analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently declared 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 is an increase 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 2.1%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on LOW shares. Guggenheim reaffirmed a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Read Our Latest Stock Analysis on LOW

Lowe's Companies Profile

(Free Report)

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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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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