Smallwood Wealth Investment Management LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Smallwood Wealth Investment Management LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 731 shares of the home improvement retailer’s stock, valued at approximately $170,000.

Several other institutional investors have also modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in Lowe’s Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock valued at $29,223,000 after acquiring an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Lowe’s Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer’s stock valued at $26,236,000 after purchasing an additional 13,092 shares in the last quarter. World Investment Advisors lifted its position in shares of Lowe’s Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer’s stock worth $6,498,000 after purchasing an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC grew its stake in Lowe’s Companies by 1.5% in the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after purchasing an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on LOW shares. Citigroup restated a “neutral” rating and set a $253.00 price objective (down previously from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. Morgan Stanley dropped their price target on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 price objective on shares of Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 21st. 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. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Trading Down 0.8%

Shares of NYSE:LOW opened at $221.82 on Tuesday. The firm’s 50 day moving average is $223.36 and its two-hundred day moving average is $235.56. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The firm has a market capitalization of $124.32 billion, a P/E ratio of 18.38, a PEG ratio of 2.11 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. 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 company posted $3.06 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.16%. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

Insider Activity at Lowe’s Companies

In related 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 transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.