Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,024 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,657 shares of the home improvement retailer’s stock after selling 1,024 shares during the quarter. Lowe’s Companies makes up 2.0% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lowe’s Companies were worth $18,112,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased 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 in the last quarter. Revolve Wealth Partners LLC increased 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 in the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of Lowe’s Companies by 16.5% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,779 shares of the home improvement retailer’s stock valued at $1,179,000 after acquiring an additional 676 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Lowe’s Companies by 18.5% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,075 shares of the home improvement retailer’s stock valued at $512,000 after acquiring an additional 324 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Lowe’s Companies by 79.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 95,328 shares of the home improvement retailer’s stock valued at $23,544,000 after acquiring an additional 42,339 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the 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 completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the subject of several analyst reports. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Mizuho set a $280.00 price objective on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price objective 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. Finally, Bank of America reduced their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Lowe’s Companies Trading Up 0.8%

Shares of NYSE:LOW opened at $223.35 on Friday. The stock has a 50 day moving average of $223.64 and a 200 day moving average of $240.51. The company has a market cap of $125.17 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 EPS. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.15%. Lowe’s Companies’s payout ratio is 39.77%.

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.