Unison Asset Management LLC Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Unison Asset Management LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,881 shares of the home improvement retailer’s stock after acquiring an additional 1,729 shares during the quarter. Lowe’s Companies accounts for about 4.9% of Unison Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Unison Asset Management LLC’s holdings in Lowe’s Companies were worth $8,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Lowe’s Companies by 1.3% in the fourth quarter. First Horizon Advisors Inc. now owns 13,964 shares of the home improvement retailer’s stock valued at $3,447,000 after buying an additional 185 shares in the last quarter. Howard Capital Management Inc. boosted its position in Lowe’s Companies by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 3,857 shares of the home improvement retailer’s stock valued at $952,000 after buying an additional 198 shares in the last quarter. Finally, MONECO Advisors LLC boosted its position in Lowe’s Companies by 5.9% in the fourth quarter. MONECO Advisors LLC now owns 3,433 shares of the home improvement retailer’s stock valued at $847,000 after buying an additional 190 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.8%

Shares of LOW opened at $218.64 on Tuesday. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The firm has a fifty day simple moving average of $222.92 and a 200 day simple moving average of $237.17. The stock has a market capitalization of $122.53 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 2.01 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.06 earnings per share. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business 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 dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. Lowe’s Companies’s payout ratio is presently 38.11%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated 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 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LOW. KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. Sanford C. Bernstein set a $266.00 target price on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Piper Sandler dropped their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Morgan Stanley dropped their price target on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

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.