Wealth Enhancement Advisory Services LLC Increases Stake in Lowe's Companies, Inc. (NYSE:LOW)

Wealth Enhancement Advisory Services LLC grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,824 shares of the home improvement retailer's stock after purchasing an additional 20,434 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.07% of Lowe's Companies worth $97,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tritonpoint Wealth LLC boosted its stake in shares of Lowe's Companies by 18.4% during the 1st quarter. Tritonpoint Wealth LLC now owns 1,698 shares of the home improvement retailer's stock valued at $396,000 after purchasing an additional 264 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Lowe's Companies in the first quarter worth about $4,742,000. Goldstone Financial Group LLC bought a new stake in Lowe's Companies during the 1st quarter valued at approximately $206,000. Powers Advisory Group LLC grew its holdings in shares of Lowe's Companies by 7.7% during the 1st quarter. Powers Advisory Group LLC now owns 1,659 shares of the home improvement retailer's stock worth $387,000 after acquiring an additional 118 shares during the period. Finally, Elevation Point Wealth Partners LLC grew its holdings in shares of Lowe's Companies by 3.5% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 7,341 shares of the home improvement retailer's stock worth $1,712,000 after acquiring an additional 247 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on LOW. Wells Fargo & Company dropped their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Piper Sandler lowered their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. Citigroup reiterated a "neutral" rating and issued a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction 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 now 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Lowe's Companies Stock Performance

Shares of NYSE:LOW traded up $1.57 during midday trading on Friday, reaching $212.40. 6,131,982 shares of the company's stock traded hands, compared to its average volume of 2,545,245. 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 $119.04 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 0.92. The stock has a 50 day moving average of $223.18 and a 200 day moving average of $238.45.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share 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 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%. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 EPS. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. Lowe's Companies's dividend payout ratio is 38.11%.

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.