Daymark Wealth Partners LLC Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Daymark Wealth Partners LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,063 shares of the home improvement retailer’s stock after selling 697 shares during the period. Daymark Wealth Partners LLC’s holdings in Lowe’s Companies were worth $5,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. Wood Tarver Financial Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $25,000. Marshall Investment Management LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe’s Companies in the fourth quarter worth $33,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies in the fourth quarter worth $36,000. Finally, IFS Advisors LLC raised its holdings in Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley lowered their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 21st. Citigroup reissued a “neutral” rating and set a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus decreased their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Lowe’s Companies Stock Down 1.0%

Shares of Lowe’s Companies stock opened at $225.35 on Monday. The company has a market capitalization of $126.29 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.96 and a beta of 0.92. The stock’s 50-day simple moving average is $223.72 and its 200-day simple moving average is $241.40. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company 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 company earned $3.06 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared 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 an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is currently 39.77%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies 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 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

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.