Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Lessened by Tobam

Tobam lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 32.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 454 shares of the home improvement retailer’s stock after selling 215 shares during the period. Tobam’s holdings in Lowe’s Companies were worth $106,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth $31,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at $33,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at $36,000. Finally, IFS Advisors LLC raised its position 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 valued at $37,000 after buying an additional 60 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Trading Down 2.9%

NYSE LOW opened at $216.99 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The company has a fifty day simple moving average of $223.77 and a 200 day simple moving average of $240.11. The company has a market cap of $121.61 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is currently 39.77%.

Insider Transactions at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president now owns 31,898 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research reports. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Bank of America reduced their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup restated 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. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler cut their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.