Lowe's Companies, Inc. (NYSE:LOW) Stake Lifted by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,656 shares of the home improvement retailer's stock after purchasing an additional 3,218 shares during the period. Wealthfront Advisers LLC's holdings in Lowe's Companies were worth $18,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe's Companies in the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at about $32,000. Caisse Des Depots ET Consignations acquired a new position in shares of Lowe's Companies in the 4th quarter valued at about $33,000. Orion Capital Management LLC acquired a new position in shares of Lowe's Companies in the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at about $36,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of several research analyst reports. DA Davidson reduced their price objective 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 raised 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 report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Royal Bank Of Canada reduced their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. Finally, Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded up $1.55 during trading on Wednesday, reaching $216.56. The stock had a trading volume of 3,604,331 shares, compared to its average volume of 2,503,245. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a market cap of $121.37 billion, a PE ratio of 17.94, a P/E/G ratio of 2.03 and a beta of 0.90. The firm's 50 day moving average price is $223.79 and its two-hundred day moving average price is $233.60.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the business earned $3.06 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently declared 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 represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's payout ratio is 38.11%.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business'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 value of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

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.