Sollinda Capital Management LLC Trims Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Sollinda Capital Management LLC cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,915 shares of the home improvement retailer's stock after selling 2,788 shares during the quarter. Sollinda Capital Management LLC's holdings in Lowe's Companies were worth $913,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies during the fourth quarter worth about $25,000. Caisse Des Depots ET Consignations purchased a new position in Lowe's Companies during the fourth quarter worth about $33,000. Orion Capital Management LLC purchased a new position in Lowe's Companies during the fourth quarter worth about $36,000. Inlight Wealth Management LLC purchased a new position in Lowe's Companies during the first quarter worth about $36,000. Finally, IFS Advisors LLC lifted its stake in Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president now owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Lowe's Companies Price Performance

Shares of NYSE:LOW opened at $223.66 on Monday. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $311.00. The company has a market cap of $125.35 billion, a PE ratio of 18.53, a P/E/G ratio of 2.11 and a beta of 0.92. The stock's 50-day moving average is $223.18 and its 200 day moving average is $235.85.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the previous year, the business earned $3.06 EPS. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. Analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank Of Canada dropped their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. 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. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $271.12.

Lowe's Companies 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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