Westwood Holdings Group Inc. Cuts Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Lowe's Companies by 8.0%, now holding 70,370 shares valued at approximately $16.4 million.
• Lowe's announced a dividend increase to $1.20 per share, resulting in an annual yield of 2.0% and a payout ratio of 39.77%.
• Analysts maintain a consensus rating of "Moderate Buy" for Lowe's stock, with a target price averaging $270.68.

Westwood Holdings Group Inc. lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,370 shares of the home improvement retailer's stock after selling 6,099 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Lowe's Companies were worth $16,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in shares of Lowe's Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after purchasing an additional 1,470 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of Lowe's Companies by 14.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after acquiring an additional 13,092 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Lowe's Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after acquiring an additional 1,242 shares during the last quarter. Northern Trust Corp grew its stake in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. Finally, Cornerstone Wealth Group LLC grew its stake in shares of Lowe's Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock worth $6,848,000 after acquiring an additional 3,295 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Transactions 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 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 owned 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial set a $264.00 price objective on shares of Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Guggenheim restated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Citigroup lowered their price objective on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Mizuho reiterated an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research note on Friday, June 13th. Finally, Royal Bank Of Canada decreased their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $270.68.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded up $2.81 during midday trading on Friday, hitting $241.37. 2,746,101 shares of the stock traded hands, compared to its average volume of 2,652,532. The company has a market cap of $135.27 billion, a PE ratio of 20.00, a P/E/G ratio of 2.25 and a beta of 0.89. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The business has a 50 day moving average price of $224.39 and a two-hundred day moving average price of $230.97.

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 the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 earnings per share. As a group, equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a 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 dividend payout ratio is currently 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.