Concord Wealth Partners Sells 4,043 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Concord Wealth Partners lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 53.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,533 shares of the home improvement retailer’s stock after selling 4,043 shares during the period. Concord Wealth Partners’ holdings in Lowe’s Companies were worth $824,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Gen Wealth Partners Inc increased its position in shares of Lowe’s Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after purchasing an additional 40 shares during the period. Peachtree Investment Partners LLC raised its holdings in shares of Lowe’s Companies by 3.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer’s stock worth $317,000 after buying an additional 42 shares in the last quarter. Second Line Capital LLC raised its holdings in shares of Lowe’s Companies by 0.9% during the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock worth $1,183,000 after buying an additional 44 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Lowe’s Companies by 0.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer’s stock worth $1,357,000 after buying an additional 47 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its position in shares of Lowe’s Companies by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer’s stock worth $1,066,000 after buying an additional 49 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent analyst reports. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Piper Sandler dropped their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada dropped their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.12.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $216.56 on Thursday. The stock 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, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The stock has a 50 day moving average price of $223.79 and a two-hundred day moving average price of $233.60.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe’s Companies’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. Research analysts forecast 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. Investors of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s payout ratio is presently 38.11%.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 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.