Sovran Advisors LLC Purchases 1,530 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Sovran Advisors LLC grew its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,327 shares of the home improvement retailer's stock after purchasing an additional 1,530 shares during the quarter. Sovran Advisors LLC's holdings in Lowe's Companies were worth $1,605,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new position in Lowe's Companies in the 4th quarter worth approximately $25,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $33,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $36,000. Inlight Wealth Management LLC bought a new position in Lowe's Companies during the first quarter worth $36,000. Finally, IFS Advisors LLC increased its position 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 acquiring an additional 60 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Up 1.1%

Shares of Lowe's Companies stock opened at $223.66 on Friday. The stock has a market capitalization of $125.35 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.11 and a beta of 0.92. The firm's 50-day moving average price is $223.18 and its two-hundred day moving average price is $236.04. 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 announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate 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 revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current 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 paid a $1.20 dividend. 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.15%. Lowe's Companies's dividend payout ratio (DPR) is 38.11%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company'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 transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. DA Davidson reduced their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company decreased their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. One equities research 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. Based on data from MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

About Lowe's Companies

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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