Victory Capital Management Inc. Purchases 26,958 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Victory Capital Management Inc. boosted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 566,382 shares of the home improvement retailer's stock after purchasing an additional 26,958 shares during the period. Victory Capital Management Inc. owned about 0.10% of Lowe's Companies worth $132,097,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in Lowe's Companies by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock worth $29,223,000 after purchasing an additional 1,470 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after acquiring an additional 13,092 shares during the period. World Investment Advisors grew its position in shares of Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after acquiring an additional 2,615 shares during the period. Larson Financial Group LLC grew its position in shares of Lowe's Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after acquiring an additional 1,242 shares during the period. Finally, Northern Trust Corp grew its position in shares of Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after acquiring an additional 993,833 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Trading Up 0.3%

Shares of Lowe's Companies stock traded up $0.56 on Friday, hitting $219.14. 2,399,060 shares of the company traded hands, compared to its average volume of 2,496,913. The firm's 50-day simple moving average is $223.67 and its 200 day simple moving average is $233.40. The company has a market cap of $122.81 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.05 and a beta of 0.90. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the firm earned $3.06 EPS. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. Analysts predict 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. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is currently 38.11%.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction 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 owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LOW shares. JPMorgan Chase & Co. reduced their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley reduced their target price on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Truist Financial set a $264.00 target price on shares of Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Mizuho reissued an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a research report on Friday, June 13th. One 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.