First United Bank & Trust Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

First United Bank & Trust trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 14,078 shares of the home improvement retailer’s stock after selling 254 shares during the period. Lowe’s Companies accounts for about 1.2% of First United Bank & Trust’s portfolio, making the stock its 25th largest position. First United Bank & Trust’s holdings in Lowe’s Companies were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at about $25,000. Marshall Investment Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $33,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $36,000. Finally, IFS Advisors LLC raised its holdings in Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 60 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.6%

Shares of NYSE LOW opened at $221.23 on Thursday. The firm has a 50-day simple moving average of $223.50 and a 200-day simple moving average of $240.87. The stock has a market capitalization of $123.98 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. 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 announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the business posted $3.06 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect 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. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.17%. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

Analyst Ratings Changes

LOW has been the subject of several recent analyst reports. Bank of America dropped their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 21st. Finally, Piper Sandler decreased 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 report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling at Lowe’s Companies

In other 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.