Moran Wealth Management LLC Buys 11,204 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Moran Wealth Management LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 23.5% during the first quarter, HoldingsChannel reports. The firm owned 58,929 shares of the home improvement retailer’s stock after purchasing an additional 11,204 shares during the quarter. Moran Wealth Management LLC’s holdings in Lowe’s Companies were worth $13,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at approximately $25,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $36,000. Inlight Wealth Management LLC purchased a new stake in Lowe’s Companies in the first quarter worth $36,000. Finally, IFS Advisors LLC grew its stake in Lowe’s Companies by 60.0% in the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.7%

Shares of NYSE:LOW opened at $220.12 on Wednesday. The company has a market capitalization of $123.36 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. The firm has a 50 day moving average of $222.91 and a 200 day moving average of $237.06. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week 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, beating the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.06 EPS. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current 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 paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LOW. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their target price on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price for the company in a report on Friday, April 25th. Finally, Stifel Nicolaus cut their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $271.12.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Company 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.