Zurcher Kantonalbank Zurich Cantonalbank Acquires 9,842 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,871 shares of the home improvement retailer’s stock after purchasing an additional 9,842 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lowe’s Companies were worth $57,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Lowe’s Companies during the first quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth about $36,000. Inlight Wealth Management LLC purchased a new stake in Lowe’s Companies during the first quarter worth about $36,000. Finally, IFS Advisors LLC increased its holdings in Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 60 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $226.83 on Monday. The company has a market capitalization of $127.12 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.14 and a beta of 0.90. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The firm’s 50 day simple moving average is $223.04 and its 200 day simple moving average is $232.26.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $3.06 earnings per share. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current 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 given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.12%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.77%.

Insider Transactions at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’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 transaction of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Robert W. Baird dropped their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada dropped their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 22nd. One equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.12.

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.