Free Trial

Lowe's Companies, Inc. (NYSE:LOW) Stake Reduced by Salem Investment Counselors Inc.

Lowe's Companies logo with Retail/Wholesale background

Salem Investment Counselors Inc. cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,398,092 shares of the home improvement retailer's stock after selling 31,810 shares during the quarter. Lowe's Companies accounts for approximately 11.4% of Salem Investment Counselors Inc.'s holdings, making the stock its largest position. Salem Investment Counselors Inc. owned approximately 0.25% of Lowe's Companies worth $326,077,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LOW. Brighton Jones LLC raised its position in shares of 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 valued at $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its holdings in Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after acquiring an additional 259 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in Lowe's Companies by 16.5% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,779 shares of the home improvement retailer's stock valued at $1,179,000 after acquiring an additional 676 shares during the period. Avidian Wealth Enterprises LLC lifted its position in shares of Lowe's Companies by 18.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,075 shares of the home improvement retailer's stock valued at $512,000 after acquiring an additional 324 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Lowe's Companies by 79.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 95,328 shares of the home improvement retailer's stock worth $23,544,000 after acquiring an additional 42,339 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business'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 directly owns 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. DA Davidson lowered their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, May 21st. Wells Fargo & Company decreased 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 note on Thursday, May 8th. Finally, Piper Sandler dropped 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 report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Check Out Our Latest Analysis on LOW

Lowe's Companies Trading Down 0.6%

Shares of LOW stock traded down $1.29 during trading hours on Monday, reaching $215.98. 2,391,785 shares of the stock were exchanged, compared to its average volume of 2,639,367. The firm has a market capitalization of $121.04 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The company's 50-day moving average price is $223.77 and its 200-day moving average price is $239.65.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (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 business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the business earned $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect 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 given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.22%. 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 39.77%.

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.

Recommended Stories

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

Should You Invest $1,000 in Lowe's Companies Right Now?

Before you consider Lowe's Companies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lowe's Companies wasn't on the list.

While Lowe's Companies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Rising Stocks You’ll Want on Your Watchlist
Trillions in Defense Spending—3 Disruptive Stocks Set to Double
The Next Palantir? AI-Defense Stock Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines