Bangor Savings Bank trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,137 shares of the home improvement retailer’s stock after selling 527 shares during the period. Bangor Savings Bank’s holdings in Lowe’s Companies were worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of LOW. Norges Bank purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC increased its holdings in Lowe’s Companies by 350.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after buying an additional 1,846,315 shares in the last quarter. GAMMA Investing LLC increased its holdings in Lowe’s Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after buying an additional 1,651,170 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Lowe’s Companies in the 4th quarter worth about $314,435,000. Finally, Northern Trust Corp increased its stake in 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 buying an additional 993,833 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.
Lowe’s Companies Stock Down 1.0%
NYSE LOW opened at $225.35 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The business’s 50-day moving average price is $223.72 and its 200 day moving average price is $241.57. The firm has a market cap of $126.29 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.96 and a beta of 0.92.
Lowe’s Companies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.13%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.77%.
Insider Activity
In other 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 transaction of $257,075.00. Following the completion of the sale, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.
Wall Street Analyst Weigh In
LOW has been the subject of several research reports. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Robert W. Baird decreased their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley cut their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.12.
Check Out Our Latest Research Report on LOW
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.
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