Carret Asset Management LLC Sells 49 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Carret Asset Management LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the first quarter, HoldingsChannel.com reports. The fund owned 7,330 shares of the home improvement retailer’s stock after selling 49 shares during the period. Carret Asset Management LLC’s holdings in Lowe’s Companies were worth $1,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after buying an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth $55,000. Alberta Investment Management Corp increased its holdings in shares of Lowe’s Companies by 24.1% in the 4th quarter. Alberta Investment Management Corp now owns 3,600 shares of the home improvement retailer’s stock worth $888,000 after buying an additional 700 shares during the last quarter. Finally, Advyzon Investment Management LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth $288,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.7%

Shares of LOW opened at $212.40 on Friday. The stock has a market capitalization of $119.04 billion, a P/E ratio of 17.60, a PEG ratio of 1.99 and a beta of 0.92. The firm has a fifty day simple moving average of $223.03 and a two-hundred day simple moving average of $238.02. 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 issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate 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 business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same period in the prior year, the business earned $3.06 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date 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 annualized dividend and a yield of 2.26%. Lowe’s Companies’s dividend payout ratio is 39.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LOW shares. Stifel Nicolaus decreased their price target on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th. Sanford C. Bernstein set a $266.00 price target on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Robert W. Baird decreased their price target on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada decreased their price target on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a report on Thursday, May 22nd. Finally, Bank of America cut 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.12.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

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.