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Waddell & Associates LLC Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Lowe's Companies logo with Retail/Wholesale background

Key Points

  • Waddell & Associates LLC increased its stake in Lowe's Companies by 183.1%, acquiring an additional 1,752 shares during the first quarter, resulting in total holdings valued at $632,000.
  • Lowe's Companies announced a quarterly dividend increase to $1.20 per share, up from the previous $1.15, with an annual yield of 2.12%.
  • Recent analyst ratings suggest strong support for Lowe's stock, with an average price target of $271.12 and a consensus rating of "Moderate Buy" from various brokerages.
  • Five stocks to consider instead of Lowe's Companies.
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Waddell & Associates LLC grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 183.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,709 shares of the home improvement retailer's stock after purchasing an additional 1,752 shares during the quarter. Waddell & Associates LLC's holdings in Lowe's Companies were worth $632,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in Lowe's Companies during the fourth quarter worth about $25,000. Fairway Wealth LLC bought a new position in Lowe's Companies during the first quarter worth about $32,000. Caisse Des Depots ET Consignations bought a new position in Lowe's Companies during the fourth quarter worth about $33,000. Orion Capital Management LLC bought a new position in Lowe's Companies during the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in Lowe's Companies during the first quarter worth about $36,000. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded down $3.09 during mid-day trading on Thursday, hitting $224.34. The company had a trading volume of 1,116,609 shares, compared to its average volume of 2,633,516. The firm has a fifty day moving average price of $222.93 and a 200 day moving average price of $232.09. The company has a market capitalization of $125.73 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. Lowe's Companies's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.06 EPS. Research analysts expect 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. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.14%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 39.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note 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 objective on the stock in a research note on Friday, April 25th. Citigroup reiterated a "neutral" rating and set a $253.00 price objective (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Robert W. Baird reduced 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 note on Thursday, May 22nd. Finally, Mizuho reiterated an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a research note on Friday, June 13th. One 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

Read Our Latest Stock Analysis on LOW

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

About Lowe's Companies

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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