Daymark Wealth Partners LLC Sells 697 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Daymark Wealth Partners LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the 1st quarter, Holdings Channel reports. The fund owned 24,063 shares of the home improvement retailer’s stock after selling 697 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Lowe’s Companies were worth $5,612,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gen Wealth Partners Inc boosted its stake in shares of Lowe’s Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after purchasing an additional 40 shares during the period. FFT Wealth Management LLC lifted its stake in Lowe’s Companies by 3.1% in the fourth quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock worth $340,000 after acquiring an additional 42 shares during the period. First Command Advisory Services Inc. lifted its stake in Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 3,166 shares of the home improvement retailer’s stock worth $781,000 after acquiring an additional 42 shares during the period. Peachtree Investment Partners LLC lifted its stake in Lowe’s Companies by 3.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer’s stock worth $317,000 after acquiring an additional 42 shares during the period. Finally, Second Line Capital LLC lifted its stake in Lowe’s Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock worth $1,183,000 after acquiring an additional 44 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LOW. Piper Sandler lowered their price objective 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 21st. DA Davidson lowered their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Finally, Robert W. Baird lowered their price objective on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the 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. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Trading Up 0.7%

Shares of Lowe’s Companies stock opened at $220.12 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The firm has a market capitalization of $123.36 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.07 and a beta of 0.92. The firm’s 50 day simple moving average is $222.91 and its two-hundred day simple moving average is $237.06.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the prior year, the business posted $3.06 EPS. Lowe’s Companies’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

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.