Adell Harriman & Carpenter Inc. Sells 100 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Adell Harriman & Carpenter Inc. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.1% in the 1st quarter, HoldingsChannel reports. The fund owned 1,316 shares of the home improvement retailer’s stock after selling 100 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Lowe’s Companies were worth $307,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Lowe’s Companies by 72.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer’s stock valued at $846,000 after purchasing an additional 1,444 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in Lowe’s Companies by 10.6% during the 4th quarter. Dana Investment Advisors Inc. now owns 8,827 shares of the home improvement retailer’s stock valued at $2,178,000 after purchasing an additional 845 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in Lowe’s Companies by 65.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,376 shares of the home improvement retailer’s stock valued at $340,000 after purchasing an additional 546 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $228.00 on Friday. The business has a 50 day simple moving average of $223.98 and a two-hundred day simple moving average of $234.93. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The stock has a market capitalization of $127.78 billion, a P/E ratio of 18.89, a PEG ratio of 2.16 and a beta of 0.90.

Lowe’s Companies (NYSE:LOW) last announced its 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. 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 analysts’ expectations of $21.09 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Analysts Set New Price Targets

A number of analysts have recently commented on LOW shares. Robert W. Baird lowered their target price on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada lowered their target price on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, KeyCorp upgraded 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 note on Friday, April 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.