Arvest Investments Inc. Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Arvest Investments Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,354 shares of the home improvement retailer’s stock after selling 137 shares during the quarter. Arvest Investments Inc.’s holdings in Lowe’s Companies were worth $2,182,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Chris Bulman Inc boosted its position in Lowe’s Companies by 9.8% during the first quarter. Chris Bulman Inc now owns 1,712 shares of the home improvement retailer’s stock worth $399,000 after purchasing an additional 153 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of Lowe’s Companies by 5.3% in the first quarter. McKinley Carter Wealth Services Inc. now owns 13,454 shares of the home improvement retailer’s stock valued at $3,138,000 after acquiring an additional 677 shares in the last quarter. InTrack Investment Management Inc lifted its position in shares of Lowe’s Companies by 209.6% in the first quarter. InTrack Investment Management Inc now owns 3,650 shares of the home improvement retailer’s stock valued at $851,000 after acquiring an additional 2,471 shares in the last quarter. Bard Financial Services Inc. lifted its position in shares of Lowe’s Companies by 13.0% in the first quarter. Bard Financial Services Inc. now owns 9,500 shares of the home improvement retailer’s stock valued at $2,216,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Curbstone Financial Management Corp lifted its position in shares of Lowe’s Companies by 9.7% in the first quarter. Curbstone Financial Management Corp now owns 3,722 shares of the home improvement retailer’s stock valued at $868,000 after acquiring an additional 330 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $221.23 on Thursday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The business’s 50-day simple moving average is $223.50 and its 200 day simple moving average is $240.87. The company has a market cap of $123.98 billion, a P/E ratio of 18.45, a PEG ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the firm earned $3.06 EPS. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Analysts Set New Price Targets

LOW has been the topic of several recent research reports. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Bank of America reduced their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.12.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction 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 directly owns 31,898 shares of the company’s stock, valued at $7,256,795. This trade 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 available at this link. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Company 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.