Pittenger & Anderson Inc. trimmed its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,194 shares of the home improvement retailer's stock after selling 2,149 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Lowe's Companies were worth $18,004,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc lifted its holdings in shares of Lowe's Companies by 1.9% during 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 in the last quarter. Peachtree Investment Partners LLC lifted its holdings in shares of Lowe's Companies by 3.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer's stock worth $317,000 after buying an additional 42 shares in the last quarter. Second Line Capital LLC lifted its holdings in shares of 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. Dumont & Blake Investment Advisors LLC lifted its holdings in shares of Lowe's Companies by 1.1% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock worth $1,066,000 after buying an additional 49 shares in the last quarter. Finally, Peoples Financial Services CORP. raised its stake in Lowe's Companies by 1.8% in the first quarter. Peoples Financial Services CORP. now owns 2,763 shares of the home improvement retailer's stock valued at $644,000 after purchasing an additional 50 shares in the last quarter. 74.06% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LOW has been the subject of a number of analyst reports. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Robert W. Baird dropped their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. DA Davidson lowered their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus lowered their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $271.12.
Check Out Our Latest Stock Report on LOW
Lowe's Companies Price Performance
Shares of NYSE:LOW traded down $3.79 during trading on Friday, reaching $224.12. 1,840,145 shares of the stock were exchanged, compared to its average volume of 2,493,668. The firm has a market cap of $125.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.90. The stock has a fifty day moving average of $224.14 and a two-hundred day moving average of $234.13. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.
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 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion during 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 EPS. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.
Lowe's Companies Increases Dividend
The firm 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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is 38.11%.
Insider Transactions at Lowe's Companies
In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.
About Lowe's Companies
(
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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