Wealthspire Advisors LLC Grows Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Wealthspire Advisors LLC increased its holdings in Lowe's Companies, Inc. by 101.4%, owning 16,080 shares worth approximately $3.75 million as of the latest report.
• Several institutional investors have recently modified their positions in Lowe's, with a total of 74.06% of the stock currently owned by institutional investors and hedge funds.
• Lowe's announced an increase in its quarterly dividend to $1.20 per share, reflecting a positive change from the previous dividend of $1.15.

Wealthspire Advisors LLC grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 101.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,080 shares of the home improvement retailer's stock after purchasing an additional 8,096 shares during the quarter. Wealthspire Advisors LLC's holdings in Lowe's Companies were worth $3,750,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LOW. Wood Tarver Financial Group LLC acquired a new stake in Lowe's Companies during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new position in Lowe's Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC bought a new stake in Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC bought a new stake in Lowe's Companies during the 1st quarter worth about $36,000. Finally, IFS Advisors LLC raised its holdings in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. DA Davidson dropped their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Citigroup dropped their price objective on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $270.68.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

LOW traded up $2.81 on Friday, hitting $241.37. 2,746,101 shares of the company were exchanged, compared to its average volume of 2,652,532. The firm has a fifty day simple moving average of $224.39 and a two-hundred day simple moving average of $230.97. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The stock has a market capitalization of $135.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $21.09 billion. During the same period last year, the company earned $3.06 EPS. Lowe's Companies's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $1.20 dividend. The ex-dividend date was Wednesday, July 23rd. 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. Lowe's Companies's dividend payout ratio is 39.77%.

Lowe's Companies Company 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.