Lowe's Companies, Inc. (NYSE:LOW) Stock Position Lifted by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its stake in Lowe's Companies by 51.8% during the first quarter, bringing its total holdings to 103,255 shares worth approximately $24 million.
• KeyCorp upgraded Lowe's from a "sector weight" to an "overweight" rating, with a price target of $266. Multiple analysts have given mixed ratings, with an overall average rating of "Moderate Buy" and a target of about $270.68.
• Lowe's declared a quarterly dividend increase to $1.20 per share, raising its annualized dividend to $4.80, reflecting a dividend yield of 2.0% based on current stock prices.

Waycross Partners LLC boosted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,255 shares of the home improvement retailer's stock after buying an additional 35,233 shares during the period. Lowe's Companies accounts for approximately 2.7% of Waycross Partners LLC's portfolio, making the stock its 17th biggest holding. Waycross Partners LLC's holdings in Lowe's Companies were worth $24,082,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc increased its holdings in shares of Lowe's Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock valued at $534,000 after purchasing an additional 40 shares during the period. Second Line Capital LLC increased its holdings in shares of Lowe's Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after purchasing an additional 44 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Lowe's Companies by 0.8% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after purchasing an additional 47 shares during the period. Fielder Capital Group LLC increased its holdings in shares of Lowe's Companies by 5.9% in the first quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after purchasing an additional 48 shares during the period. Finally, Dumont & Blake Investment Advisors LLC increased its holdings in shares of Lowe's Companies by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock valued at $1,066,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LOW shares. Wells Fargo & Company decreased their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. DA Davidson decreased their price target on 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. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a research note on Friday, April 25th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. Finally, Guggenheim restated a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.68.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Lowe's Companies Trading Up 1.2%

NYSE:LOW traded up $2.81 on Friday, hitting $241.37. 2,746,101 shares of the stock were exchanged, compared to its average volume of 2,652,532. The stock has a market cap of $135.27 billion, a PE ratio of 20.00, a PEG ratio of 2.25 and a beta of 0.89. The stock has a fifty day moving average of $224.39 and a 200-day moving average of $230.97. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week 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, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.06 earnings per share. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. Lowe's Companies's payout ratio is 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.