Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,686 shares of the home improvement retailer’s stock after selling 680 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Lowe’s Companies were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LOW. Brighton Jones LLC raised its holdings in shares of Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after acquiring an additional 259 shares during the last quarter. Prudential PLC increased its holdings in shares of Lowe’s Companies by 18.4% in the fourth quarter. Prudential PLC now owns 14,759 shares of the home improvement retailer’s stock valued at $3,643,000 after purchasing an additional 2,289 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Lowe’s Companies by 2.1% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,506 shares of the home improvement retailer’s stock valued at $1,112,000 after purchasing an additional 91 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its holdings in shares of Lowe’s Companies by 13.6% in the fourth quarter. Perennial Investment Advisors LLC now owns 2,518 shares of the home improvement retailer’s stock valued at $621,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LOW. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. KeyCorp raised Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target for the company in a report on Friday, April 25th. Wells Fargo & Company cut their price target on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 22nd. Finally, Robert W. Baird cut their price target on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $270.68.

Insider Activity at Lowe’s Companies

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

Lowe’s Companies Stock Up 1.2%

LOW opened at $226.33 on Monday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The business has a fifty day simple moving average of $223.03 and a 200-day simple moving average of $231.38. The firm has a market cap of $126.84 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.14 and a beta of 0.89.

Lowe’s Companies (NYSE:LOW) last released 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. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same period last year, the business posted $3.06 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 39.77%.

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.