Stonebrook Private Inc. Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Stonebrook Private Inc. increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 13.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,709 shares of the home improvement retailer’s stock after acquiring an additional 206 shares during the period. Stonebrook Private Inc.’s holdings in Lowe’s Companies were worth $399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Lowe’s Companies in the fourth quarter worth $25,000. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies in the fourth quarter worth $33,000. Fairway Wealth LLC purchased a new stake in Lowe’s Companies during the first quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Lowe’s Companies during the first quarter valued at about $36,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.8%

Shares of LOW stock opened at $225.38 on Thursday. The stock has a 50 day moving average of $224.10 and a 200 day moving average of $234.56. The stock has a market cap of $126.31 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.11 and a beta of 0.90. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 49.12% and a net margin of 8.22%. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned $3.06 earnings per share. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.11%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LOW shares. Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 21st. Mizuho reiterated an “outperform” rating and set a $280.00 price target on shares of Lowe’s Companies in a report on Friday, June 13th. Finally, KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a report on Friday, April 25th. One 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.