Integrated Advisors Network LLC Acquires 2,775 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Integrated Advisors Network LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,283 shares of the home improvement retailer’s stock after purchasing an additional 2,775 shares during the quarter. Integrated Advisors Network LLC’s holdings in Lowe’s Companies were worth $4,264,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC raised its position in shares of Lowe’s Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after acquiring an additional 1,846,315 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Lowe’s Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock worth $386,540,000 after acquiring an additional 1,651,170 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $314,435,000. Finally, Northern Trust Corp raised its position in shares of Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LOW shares. Piper Sandler dropped their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Citigroup reaffirmed a “neutral” rating and set a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. Morgan Stanley decreased their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. KeyCorp raised 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. Finally, Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. One 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $224.98 on Wednesday. The firm has a market cap of $126.09 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The stock’s 50-day moving average is $223.54 and its 200-day moving average is $241.00. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. Lowe’s Companies’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is presently 39.77%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business’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 now owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% 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. 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.