Segment Wealth Management LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Segment Wealth Management LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 178.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,364 shares of the home improvement retailer’s stock after acquiring an additional 2,798 shares during the period. Segment Wealth Management LLC’s holdings in Lowe’s Companies were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. DMKC Advisory Services LLC raised its holdings in Lowe’s Companies by 0.8% in the 1st quarter. DMKC Advisory Services LLC now owns 7,741 shares of the home improvement retailer’s stock worth $1,805,000 after acquiring an additional 61 shares during the last quarter. Proathlete Wealth Management LLC raised its holdings in Lowe’s Companies by 5.6% in the 1st quarter. Proathlete Wealth Management LLC now owns 3,020 shares of the home improvement retailer’s stock worth $708,000 after acquiring an additional 159 shares during the last quarter. Abundance Wealth Counselors raised its holdings in Lowe’s Companies by 3.2% in the 1st quarter. Abundance Wealth Counselors now owns 6,915 shares of the home improvement retailer’s stock worth $1,622,000 after acquiring an additional 217 shares during the last quarter. Alta Capital Management LLC raised its holdings in Lowe’s Companies by 1.9% in the 1st quarter. Alta Capital Management LLC now owns 64,008 shares of the home improvement retailer’s stock worth $14,929,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Lowe’s Companies by 4.5% in the 1st quarter. Retirement Systems of Alabama now owns 315,604 shares of the home improvement retailer’s stock worth $73,608,000 after acquiring an additional 13,713 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LOW shares. Piper Sandler cut 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. Mizuho reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Lowe’s Companies in a research report on Friday, June 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus cut their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Insider Buying and Selling

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

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $212.40 on Friday. The company has a market capitalization of $119.04 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.99 and a beta of 0.92. The company has a fifty day moving average of $223.03 and a 200 day moving average of $238.02. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued 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. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. Lowe’s Companies’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS 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. 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 2.26%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

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.