Principle Wealth Partners LLC Trims Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Principle Wealth Partners LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 13,698 shares of the home improvement retailer’s stock after selling 300 shares during the quarter. Principle Wealth Partners LLC’s holdings in Lowe’s Companies were worth $3,195,000 at the end of the most recent quarter.

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

Lowe’s Companies Stock Performance

LOW traded up $0.10 on Thursday, hitting $228.71. 227,367 shares of the company were exchanged, compared to its average volume of 2,640,119. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The business’s fifty day moving average is $223.32 and its 200 day moving average is $232.76. The firm has a market capitalization of $128.18 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.14 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the business earned $3.06 earnings per share. Lowe’s Companies’s revenue was down 2.0% compared to the same quarter last year. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared 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 is Wednesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.10%. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Mizuho reissued an “outperform” rating and issued a $280.00 target price on shares of Lowe’s Companies in a report on Friday, June 13th. DA Davidson dropped their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 21st. Finally, Truist Financial set a $264.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s 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 completion of the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.