Zurcher Kantonalbank Zurich Cantonalbank Buys 9,842 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Zurcher Kantonalbank increased its stake in Lowe's, acquiring 9,842 shares and raising its holdings by 4.2%, bringing total shares owned to 246,871.
• Lowe's announced a quarterly dividend increase to $1.20 per share, reflecting a positive change from its previous dividend of $1.15, with a yield of 2.12%.
• The company reported earnings per share (EPS) of $2.92 for the last quarter, surpassing analysts' expectations, despite a 2.0% decline in revenue year-over-year.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,871 shares of the home improvement retailer's stock after purchasing an additional 9,842 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lowe's Companies were worth $57,578,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in shares of Lowe's Companies in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in Lowe's Companies during the first quarter worth $32,000. Orion Capital Management LLC bought a new stake in Lowe's Companies during the fourth quarter worth $36,000. Inlight Wealth Management LLC bought a new stake in Lowe's Companies during the first quarter worth $36,000. Finally, IFS Advisors LLC lifted its holdings in Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 60 shares during the period. Institutional investors own 74.06% of the company's stock.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Lowe's Companies stock traded down $2.19 during midday trading on Thursday, hitting $225.24. 800,777 shares of the company's stock were exchanged, compared to its average volume of 2,631,575. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a 50-day moving average price of $222.93 and a two-hundred day moving average price of $232.09. The company has a market cap of $126.23 billion, a P/E ratio of 18.66, a PEG ratio of 2.17 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 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 during the quarter, compared to analysts' expectations of $21.09 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. As a group, sell-side 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 disclosed 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 is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is presently 39.77%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus dropped their price target 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. Citigroup reiterated a "neutral" rating and set a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a report on Wednesday, May 14th. Robert W. Baird dropped their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada decreased their target price on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $271.12.

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.