Alpine Bank Wealth Management Invests $2.98 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Alpine Bank Wealth Management bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,794 shares of the home improvement retailer’s stock, valued at approximately $2,984,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock worth $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lowe’s Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock worth $2,952,341,000 after acquiring an additional 245,876 shares in the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $1,842,954,000. Northern Trust Corp increased its stake in shares of Lowe’s Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Lowe’s Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock worth $1,242,793,000 after purchasing an additional 323,371 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LOW shares. Royal Bank Of Canada dropped their price objective on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Finally, Truist Financial set a $264.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Stock Up 0.7%

Shares of LOW opened at $220.12 on Wednesday. The firm has a market cap of $123.36 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. The company’s fifty day moving average is $222.91 and its two-hundred day moving average is $237.06. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the firm posted $3.06 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

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.