MGO One Seven LLC Has $3.35 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

MGO One Seven LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,344 shares of the home improvement retailer’s stock after selling 932 shares during the quarter. MGO One Seven LLC’s holdings in Lowe’s Companies were worth $3,345,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $32,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $36,000. Inlight Wealth Management LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $36,000. Finally, IFS Advisors LLC raised its stake in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 60 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 1.7%

Shares of NYSE LOW opened at $223.55 on Friday. The firm has a market capitalization of $125.28 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.15 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 moving average is $222.93 and its 200-day moving average is $231.92.

Lowe’s Companies (NYSE:LOW) last issued 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 analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. Lowe’s Companies’s payout ratio is 39.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LOW. KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. Royal Bank Of Canada dropped their price objective on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Citigroup dropped their price objective on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $270.68.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

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.