Strategic Planning Group LLC Purchases 2,019 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Strategic Planning Group LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,275 shares of the home improvement retailer's stock after buying an additional 2,019 shares during the period. Strategic Planning Group LLC's holdings in Lowe's Companies were worth $3,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. Wood Tarver Financial Group LLC bought a new position in shares of Lowe's Companies during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC bought a new position in Lowe's Companies during the fourth quarter worth $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe's Companies during the fourth quarter worth $33,000. Orion Capital Management LLC acquired a new stake in Lowe's Companies in the fourth quarter worth $36,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in Lowe's Companies in the fourth quarter worth $42,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Morgan Stanley reduced their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Piper Sandler cut their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Mizuho set a $280.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Stock Down 0.4%

NYSE LOW traded down $0.91 during trading hours on Thursday, reaching $227.48. 1,985,083 shares of the company were exchanged, compared to its average volume of 2,516,440. The stock has a market capitalization of $127.32 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The business's 50 day simple moving average is $224.01 and its 200-day simple moving average is $242.26.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $20.93 billion for the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 EPS. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 39.77%.

Insider Buying and Selling at Lowe's Companies

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

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.