Berkshire Bank Acquires 80 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Berkshire Bank increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,949 shares of the home improvement retailer’s stock after purchasing an additional 80 shares during the quarter. Berkshire Bank’s holdings in Lowe’s Companies were worth $688,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LOW. Brighton Jones LLC grew its stake in shares of Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after purchasing an additional 259 shares during the last quarter. Principal Securities Inc. lifted its holdings in Lowe’s Companies by 2.1% in the fourth quarter. Principal Securities Inc. now owns 10,936 shares of the home improvement retailer’s stock valued at $2,699,000 after buying an additional 230 shares during the period. Allworth Financial LP lifted its holdings in Lowe’s Companies by 32.6% in the fourth quarter. Allworth Financial LP now owns 14,708 shares of the home improvement retailer’s stock valued at $3,795,000 after buying an additional 3,616 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in Lowe’s Companies by 19.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 5,940 shares of the home improvement retailer’s stock valued at $1,466,000 after buying an additional 954 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $215.98 on Tuesday. The firm has a market cap of $121.04 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The firm has a 50-day moving average price of $223.88 and a two-hundred day moving average price of $239.26.

Lowe’s Companies (NYSE:LOW) last posted 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 analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.22%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LOW shares. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Robert W. Baird dropped their target price on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Stifel Nicolaus dropped 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 report on Tuesday, May 27th. Finally, Citigroup restated a “neutral” rating and issued a $253.00 target price (down previously from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.