Blue Trust Inc. Buys 1,087 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Blue Trust Inc. grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,175 shares of the home improvement retailer’s stock after buying an additional 1,087 shares during the quarter. Blue Trust Inc.’s holdings in Lowe’s Companies were worth $2,373,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LOW. State of Alaska Department of Revenue increased its holdings in shares of Lowe’s Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock worth $29,223,000 after buying an additional 1,470 shares during the period. Aptus Capital Advisors LLC raised its holdings in Lowe’s Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock worth $26,236,000 after purchasing an additional 13,092 shares in the last quarter. World Investment Advisors raised its stake in Lowe’s Companies by 11.0% in the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock worth $6,498,000 after buying an additional 2,615 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Lowe’s Companies by 1.5% in the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after acquiring an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after buying an additional 993,833 shares during the period. 74.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s 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 transaction, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Down 0.6%

LOW stock opened at $210.72 on Friday. The business’s 50-day moving average price is $223.18 and its 200-day moving average price is $238.45. The stock has a market cap of $118.10 billion, a P/E ratio of 17.46, a PEG ratio of 1.99 and a beta of 0.92. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results 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 net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter last year, the business earned $3.06 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.28%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada decreased 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. Morgan Stanley lowered their target price on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, 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. One investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

About Lowe’s Companies

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.