Park Place Capital Corp Reduces Position in Lowe's Companies, Inc. (NYSE:LOW)

Park Place Capital Corp lessened its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 68.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 675 shares of the home improvement retailer's stock after selling 1,442 shares during the period. Park Place Capital Corp's holdings in Lowe's Companies were worth $157,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LOW. Brighton Jones LLC grew its position in Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after purchasing an additional 259 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Lowe's Companies during the 4th quarter worth approximately $353,000. Advisor OS LLC lifted its stake in Lowe's Companies by 14.4% during the 4th quarter. Advisor OS LLC now owns 1,323 shares of the home improvement retailer's stock valued at $326,000 after acquiring an additional 167 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in Lowe's Companies during the 4th quarter valued at approximately $199,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE:LOW opened at $223.66 on Friday. The company has a fifty day moving average of $223.18 and a two-hundred day moving average of $236.26. The stock has a market capitalization of $125.35 billion, a PE ratio of 18.53, a P/E/G ratio of 2.09 and a beta of 0.92. Lowe's Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. 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 business posted $3.06 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is a positive change 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 dividend yield of 2.15%. Lowe's Companies's dividend payout ratio is presently 38.11%.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research note on Wednesday, May 21st. Piper Sandler decreased their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus price target 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.

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