Midland Wealth Advisors LLC Has $2.01 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Midland Wealth Advisors LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the first quarter, Holdings Channel reports. The fund owned 8,624 shares of the home improvement retailer’s stock after selling 268 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its holdings in Lowe’s Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after buying an additional 259,766 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lowe’s Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after acquiring an additional 245,876 shares during the period. Norges Bank bought a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $1,842,954,000. Northern Trust Corp grew its stake in shares of Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lowe’s Companies by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock worth $1,242,793,000 after acquiring an additional 323,371 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe’s Companies

In related 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 transaction, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 analyst reports. 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. DA Davidson cut their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Piper Sandler reduced 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 note on Monday, March 24th. Morgan Stanley decreased their target price 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $225.35 on Monday. The company’s fifty day moving average is $223.72 and its 200-day 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. The company has a market capitalization of $126.29 billion, a PE ratio of 18.79, 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 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a positive change 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%. Lowe’s Companies’s dividend payout ratio is 39.77%.

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.