Sagespring Wealth Partners LLC Buys 1,210 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Sagespring Wealth Partners LLC boosted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 19.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,413 shares of the home improvement retailer's stock after purchasing an additional 1,210 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Lowe's Companies were worth $1,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC increased its holdings in Lowe's Companies by 14.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after purchasing an additional 13,092 shares during the last quarter. World Investment Advisors increased its holdings in Lowe's Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Lowe's Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after purchasing an additional 7,187 shares during the last quarter. Northern Trust Corp increased its holdings in Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Finally, Trek Financial LLC bought a new stake in Lowe's Companies in the fourth quarter valued at about $882,000. Institutional investors own 74.06% of the company's stock.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 31,898 shares of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler lowered their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Citigroup restated a "neutral" rating and issued a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, DA Davidson lowered their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE LOW opened at $215.98 on Tuesday. The stock has a 50 day moving average price of $223.88 and a 200 day moving average price of $239.26. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The stock has a market capitalization of $121.04 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm 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 firm posted $3.06 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research 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. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

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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