Single Point Partners LLC Buys Shares of 1,273 Lowe's Companies, Inc. (NYSE:LOW)

Single Point Partners LLC purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,273 shares of the home improvement retailer's stock, valued at approximately $297,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Lowe's Companies during the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Lowe's Companies by 350.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock worth $585,770,000 after purchasing an additional 1,846,315 shares during the period. GAMMA Investing LLC increased its position in shares of Lowe's Companies by 26,796.0% during the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe's Companies during the 4th quarter worth about $314,435,000. Finally, Northern Trust Corp raised its holdings in Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares during the period. Institutional investors and hedge funds 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 firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Lowe's Companies Trading Down 1.0%

Shares of LOW opened at $225.35 on Monday. The firm has a market capitalization of $126.29 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.96 and a beta of 0.92. The firm's fifty day simple moving average is $223.72 and its 200-day simple moving average is $241.40. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its 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. The firm 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 47.55% and a net margin of 8.19%. Lowe's Companies's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 earnings per share. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analyst Ratings Changes

Several research analysts have weighed in on LOW shares. Piper Sandler lowered their target price 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. Morgan Stanley lowered 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 report on Monday, May 5th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Robert W. Baird decreased their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, Mizuho set a $280.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. One 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 presently has an average rating of "Moderate Buy" and a consensus target price 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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