Wendell David Associates Inc. Has $4.58 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Wendell David Associates Inc. trimmed its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,619 shares of the home improvement retailer's stock after selling 2,898 shares during the quarter. Wendell David Associates Inc.'s holdings in Lowe's Companies were worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after acquiring an additional 259 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Lowe's Companies by 2.1% in the 4th quarter. Principal Securities Inc. now owns 10,936 shares of the home improvement retailer's stock worth $2,699,000 after acquiring an additional 230 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Lowe's Companies by 32.6% in the 4th quarter. Allworth Financial LP now owns 14,708 shares of the home improvement retailer's stock worth $3,795,000 after acquiring an additional 3,616 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Lowe's Companies by 19.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 5,940 shares of the home improvement retailer's stock worth $1,466,000 after acquiring an additional 954 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on LOW shares. JPMorgan Chase & Co. reduced their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus reduced their target price on Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Truist Financial set a $264.00 target price on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a report on Friday, April 25th. Finally, DA Davidson dropped their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock traded down $1.20 on Wednesday, hitting $210.72. 2,524,502 shares of the company's stock traded hands, compared to its average volume of 2,530,824. The firm's 50-day moving average price is $223.65 and its two-hundred day moving average price is $239.07. The stock has a market capitalization of $118.10 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data 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. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts forecast 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. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is currently 38.11%.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were 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 now owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

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.