Thurston Springer Miller Herd & Titak Inc. Has $2.95 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 25.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,651 shares of the home improvement retailer's stock after purchasing an additional 2,601 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Lowe's Companies were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lake Street Private Wealth LLC acquired a new position in Lowe's Companies in the first quarter valued at approximately $305,000. L. Roy Papp & Associates LLP raised its position in shares of Lowe's Companies by 8.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 1,381 shares of the home improvement retailer's stock valued at $322,000 after acquiring an additional 112 shares during the last quarter. Better Money Decisions LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at $339,000. McGrath & Associates Inc. lifted its stake in shares of Lowe's Companies by 2.0% in the 1st quarter. McGrath & Associates Inc. now owns 4,471 shares of the home improvement retailer's stock valued at $1,043,000 after purchasing an additional 87 shares during the period. Finally, Benin Management CORP boosted its position in shares of Lowe's Companies by 1.2% in the 1st quarter. Benin Management CORP now owns 5,276 shares of the home improvement retailer's stock worth $1,231,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on LOW. Morgan Stanley dropped their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Bank of America lowered their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Robert W. Baird cut their price target 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. Stifel Nicolaus decreased their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Finally, Piper Sandler cut their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Price Performance

Shares of LOW traded down $2.24 during mid-day trading on Friday, hitting $225.35. 2,216,796 shares of the company's stock were exchanged, compared to its average volume of 2,518,392. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The company has a market cap of $126.29 billion, a PE ratio of 18.79, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a 50-day simple moving average of $223.89 and a 200 day simple moving average of $241.95.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. During the same period in the prior year, the firm posted $3.06 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share 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 dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. 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. Lowe's Companies's payout ratio is currently 39.77%.

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.