United Capital Financial Advisers LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,783 shares of the home improvement retailer’s stock after selling 10,112 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Lowe’s Companies were worth $40,192,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vident Investment Advisory LLC raised its holdings in shares of Lowe’s Companies by 13.4% in the first quarter. Vident Investment Advisory LLC now owns 62,432 shares of the home improvement retailer’s stock valued at $12,622,000 after acquiring an additional 7,355 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Lowe’s Companies by 96.0% in the first quarter. Horizon Investments LLC now owns 22,889 shares of the home improvement retailer’s stock valued at $4,609,000 after acquiring an additional 11,213 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Lowe’s Companies in the first quarter valued at about $5,104,000. Capital Group Private Client Services Inc. raised its holdings in shares of Lowe’s Companies by 1.3% in the first quarter. Capital Group Private Client Services Inc. now owns 91,536 shares of the home improvement retailer’s stock valued at $18,508,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Copperleaf Capital LLC raised its holdings in shares of Lowe’s Companies by 3.0% in the first quarter. Copperleaf Capital LLC now owns 11,638 shares of the home improvement retailer’s stock valued at $2,353,000 after acquiring an additional 341 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on LOW shares. Piper Sandler boosted their target price on shares of Lowe’s Companies to $248.00 in a report on Monday, August 22nd. Guggenheim decreased their target price on shares of Lowe’s Companies to $240.00 in a research report on Friday, May 20th. TheStreet raised shares of Lowe’s Companies from a “c+” rating to a “b” rating in a report on Monday, August 29th. Evercore ISI upped their price target on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Finally, Wells Fargo & Company raised their price objective on Lowe’s Companies from $220.00 to $245.00 in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $244.05.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Rating) last issued its earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The firm had revenue of $27.48 billion during the quarter, compared to analysts’ expectations of $28.16 billion. During the same quarter last year, the company posted $4.25 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 13.51 EPS for the current year.
Lowe’s Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, October 18th. This represents a $4.20 annualized dividend and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.10%.
Insider Buying and Selling
In related news, EVP Seemantini Godbole sold 11,761 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the sale, the executive vice president now owns 26,575 shares in the company, valued at $5,696,882.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.
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