Lynch & Associates IN Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Lynch & Associates IN raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,257 shares of the home improvement retailer’s stock after buying an additional 285 shares during the quarter. Lowe’s Companies comprises approximately 1.3% of Lynch & Associates IN’s holdings, making the stock its 27th largest position. Lynch & Associates IN’s holdings in Lowe’s Companies were worth $5,891,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Chicago Capital LLC grew its holdings in Lowe’s Companies by 0.3% during the 1st quarter. Chicago Capital LLC now owns 153,001 shares of the home improvement retailer’s stock valued at $35,685,000 after buying an additional 428 shares in the last quarter. Smith Shellnut Wilson LLC ADV grew its holdings in Lowe’s Companies by 0.6% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 13,276 shares of the home improvement retailer’s stock valued at $3,096,000 after buying an additional 74 shares in the last quarter. Inscription Capital LLC purchased a new stake in Lowe’s Companies during the 1st quarter valued at approximately $561,000. Fortitude Advisory Group L.L.C. grew its holdings in Lowe’s Companies by 12.7% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,656 shares of the home improvement retailer’s stock valued at $355,000 after buying an additional 186 shares in the last quarter. Finally, Community Trust & Investment Co. grew its holdings in Lowe’s Companies by 2.3% during the 1st quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer’s stock valued at $12,945,000 after buying an additional 1,251 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the company an “outperform” rating in a report on Thursday, May 22nd. Bank of America lowered their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Truist Financial set a $264.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada lowered their target price on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Lowe’s Companies Trading Down 0.6%

NYSE:LOW opened at $215.98 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market cap of $121.04 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The stock has a fifty day simple moving average of $223.88 and a 200-day simple moving average of $239.26.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping 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 business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the company earned $3.06 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was 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 approximately $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 SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

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.