Ascent Wealth Partners LLC Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ascent Wealth Partners LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,479 shares of the home improvement retailer’s stock after purchasing an additional 59 shares during the period. Ascent Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at approximately $32,000. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies in the 4th quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at approximately $36,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s 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 transaction, the executive vice president directly owned 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Price Performance

NYSE:LOW opened at $216.56 on Thursday. The business’s 50-day moving average is $223.79 and its two-hundred day moving average is $233.60. 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 $121.37 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Lowe’s Companies (NYSE:LOW) last released 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. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same period last year, the company posted $3.06 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Wednesday, July 23rd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.22%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LOW. Citigroup reaffirmed a “neutral” rating and issued a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. 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 report on Friday, April 25th. Finally, 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 report on Thursday, May 8th. One research 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, the company currently 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.