Twin Capital Management Inc. Purchases New Shares in Lowe's Companies, Inc. (NYSE:LOW)

Twin Capital Management Inc. purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,848 shares of the home improvement retailer's stock, valued at approximately $431,000.

A number of other hedge funds also recently bought and sold shares of LOW. Brighton Jones LLC lifted its stake in Lowe's Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after acquiring an additional 17,413 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Lowe's Companies by 72.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer's stock valued at $846,000 after buying an additional 1,444 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at about $44,000. Finally, Virtu Financial LLC lifted its position in shares of Lowe's Companies by 28.4% during the fourth quarter. Virtu Financial LLC now owns 7,028 shares of the home improvement retailer's stock valued at $1,734,000 after buying an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Activity at Lowe's Companies

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 stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president owned 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by company insiders.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock opened at $219.14 on Monday. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The company has a market cap of $122.81 billion, a PE ratio of 18.16, a P/E/G ratio of 2.07 and a beta of 0.90. The business has a 50-day simple moving average of $223.61 and a 200-day simple moving average of $233.02.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $20.93 billion during 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%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. On average, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. 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 2.19%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is presently 39.77%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LOW. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a report on Friday, April 25th. Mizuho reiterated an "outperform" rating and issued a $280.00 price target on shares of Lowe's Companies in a report on Friday, June 13th. Morgan Stanley cut 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 report on Monday, May 5th. Finally, DA Davidson dropped their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. One equities research 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. According to MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average 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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